AMD has been on a tear for a while now. This recent little retrace we had I am counting as wave iv of 3 of (3). In the wave iii of 3 of (3), price went from $93.12 all the way to $184.92 in 3 months. That is the strength of 3's when they get stacked like they were. To say this thing is extended is an understatement. I anticipate us to raise to the $190's before starting our next retrace for wave 4.
Once we start that wave 4, I can give more refined targets for that retrace, but until then I would only be speculating. After that wave 4, price should head to the $210-$230 area if it is to continue along these extensions. Broadcom is already being considered as a replacement for Tesla in the magnificent 7. If investors make that conclusion, then it would be a huge boost to AMD and would easily give it the momentum necessary to hit the targets I have set. Time will tell but I feel AMD is a great long-term investment and I will most likely be buying into it very soon. If/when I do, I will post those trades on here of course.
Once we start that wave 4, I can give more refined targets for that retrace, but until then I would only be speculating. After that wave 4, price should head to the $210-$230 area if it is to continue along these extensions. Broadcom is already being considered as a replacement for Tesla in the magnificent 7. If investors make that conclusion, then it would be a huge boost to AMD and would easily give it the momentum necessary to hit the targets I have set. Time will tell but I feel AMD is a great long-term investment and I will most likely be buying into it very soon. If/when I do, I will post those trades on here of course.
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
