AMD: Not long term bullish yet.

1 thg 11, 2023

Advanced Micro Devices has had an enormously bullish day as a natural result of yesterday's better than expected earnings and this rise closed the session almost at the top of the Channel Down pattern. This was enough to turn the 1D timeframe bullish (RSI = 59.297, MACD = -1.230, ADX = 33.876).

This however isn't yet a long term buy signal buy for the first time since June, it is an encouraging one as it is being executed after a 1D MACD Bullish Divergence, on a Bullish Cross too. However we will only buy for the long term after the price crosses over the R1 level and then retests it as Support. If fulfilled, our target will be the 0.786 Fibonacci level (TP = 124.00).

## If you like our free content follow our profile to get more daily ideas. ##

## Comments and likes are greatly appreciated. ##