AMD, short-mid term bearish Short

Advanced Micro Devices, Inc.NASDAQ

Description

⋅ May 10, 2021 2:55 PM

AMD has been making a potential rounding top since end of July 2020.
Neckline of ~73.65 is important.

If this neckline fails to hold, the next downside target will be around 55,

and worst case around 42.

I have no control of the timeline but it could take almost a year to hit this target in a slow dead manner

This analysis is solely for educational/research purpose

Comments

jangseohee

⋅ Jul 23, 2021 1:49 PM

Morning @goodguy tradingview.com/x/cBoCkU3E/, you could be correct, base on my SMH ETF chart, if i use the fibo correctly, there is still a tiny space from 255 to 272 which means some more rooms for AMD to grind higher :-)

goodguy

⋅ Jul 21, 2021 6:22 PM

Good to hear from you. DXY down so far today but will see what happens On AMD I think there is a very good chance it is about to drop now. I will be watching for some price action to confirm.

jangseohee

⋅ Jul 22, 2021 2:50 PM

@goodguy, fingers crossed :-)

goodguy

⋅ Jul 22, 2021 5:02 PM

@jangseohee, After looking at the QQQ I think the above count and analysis is likely WRONG. This looks better to me. BIG difference. Notice all the times the price reverses at the mid line of the channel. I sort of think that helps validate if the channel is properly drawn. What do you think?