AMD is experiencing decisive moments ! It reached to two important top of channel simultaneously! A break out will trigger a fly to the moon!
Possible break out will deteriorate any pessimistic or even moderate scenarios for AMD at least for mid and long terms!
Two different time frames are shown on the chart :
On the left side we see daily time frame and the price which reached to top of the channel. There is one negative sign which is labeled on the chart. Since we had throw under in previous correction we may just have a throw over move over the top of the channel which means break out is fake and price will go back below the line. That is the thing we will find out in upcoming days.
On the right side of the chart we see that AMD is reached to the top of the larger cycle wave channel on monthly time frame ! Amazing confluence ! If it can break this line it means that being in a wave 3 of a large degree cycle confirms and this is very good news for long and mid and even short term investors and traders. In this case AMD will see unbelievable targets in long term.
It is valuable to know that channel break out is typical character of wave 3. So if break out happens we will enjoy more and more from our long position my friends.
Lets hope for the channel break out my fiends. But we always have to trade based on facts not hopes and wishes.
Good luck everyone!
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So far we have strong rejection from top of the channel. Strong resistance showed its power. Lets follow the battle.
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Lost the battle!!! Another attack??may be later.
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AMD is attacking to the major up trend line once more ! who wins the battle this time?
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Important moment for AMD ! Now, It is traded above its half of century up trend line ! Congrats bulls.
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Of course there will be some minor and major corrections in up coming path. But I promise you few people can even imagine how far it can go higher in long term!
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New ATH ! beautiful pull back to broken half of century up trend line ! Amazing !
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AMD may go for a correction. Being cautious is wise these days.