Although I have been bearish about AMD in the past, and still believe AMD may be due for a big correction downwards to about 7 USD, I also came up with this count as another possibility that way we can assess all options.
If we look at AMD at a larger TF, on weekly candles, we can see that it is an impulse 5 waves up. We saw a wave 4 correction in Sept-Nov of 2018 and have now started Wave 5 to the top.
AMD Weekly Candles:
We have now already completed and Wave 1 and 2 sub waves within the larger 5th Wave:
In the shorter term, we have started Wave 1, of Wave 3. I expect the Wave 1 within the Wave 1 to go down to either 22.3 usd, or 21.93 usd. If we went to 22.3 usd, this would give us a target for the larger Wave 1 of 29.44 usd, at our 2.272 fib. But if we look at our major resistance levels we can see that the next one up lines up perfectly with the 2.0 fib, so I would expect the 1st Wave to go to 28.6 USD instead:
This is my primary AMD count:
Disclaimer: This is my prediction and I am posting for education purposes only.
If we look at AMD at a larger TF, on weekly candles, we can see that it is an impulse 5 waves up. We saw a wave 4 correction in Sept-Nov of 2018 and have now started Wave 5 to the top.
AMD Weekly Candles:
We have now already completed and Wave 1 and 2 sub waves within the larger 5th Wave:
In the shorter term, we have started Wave 1, of Wave 3. I expect the Wave 1 within the Wave 1 to go down to either 22.3 usd, or 21.93 usd. If we went to 22.3 usd, this would give us a target for the larger Wave 1 of 29.44 usd, at our 2.272 fib. But if we look at our major resistance levels we can see that the next one up lines up perfectly with the 2.0 fib, so I would expect the 1st Wave to go to 28.6 USD instead:
This is my primary AMD count:
Disclaimer: This is my prediction and I am posting for education purposes only.
