NASDAQ:AMD   Advanced Micro Devices Inc
Well, if the recent upward movement continues, then we might have some good opportunity over here.
AMD is considered to be one of the best "comeback kings", which means once it was oversold, it usually runs back to overbought levels very quickly.
It was oversold on multiple timeframes recently, and based on the MACD indicator. We might see some trend reversal( Regular Divergence is showing up).
The first price target is 52,12 the second one is around 55,40
However, it is still down-trending on RSI , so having a stop loss is crucial. (48,31)
Trade closed: target reached

Comments

Good analysis.

Yes, MCAD has turned bullish, however, the RSI is still weak at 39.66, may want to wait for it to get above 50. If we close above 50.73 (20-day SMA) it could run up to 52.70 and then break higher to 53.77.
+1 Reply
jds12 mistrykam
@mistrykam, If it doesn't close above 50.73 today I'll be shocked
+1 Reply
BUY AMD!!!!
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What do you think? Going to break the 52 zone?
If not, it will go to the lower resistance zone or just fluctuating like before and then go up again?
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Thank you for your hard work
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n1
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I don't understand your full analysis.
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@EricKam, The point was: some indicator predicted a reversal, which occured.
However it was still down-trending at that time
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