Update: Projected Channel-Low Holds Up | #AMD #NYSE for NYSE:AMD by 4xForecaster

Last January 1st, we proposed that price would decline to a predicted level corresponding to the lower-level of the channel, yet offering a warning if price would dwell or depart lower than 3.41.

As of this first day of the trading week, price has successfully been help up at that channel projection level, byt closed the day at 3.41, close enough to our "warning level" of 3.43, that we should expect a reactive rally from this point. A close below that level tomorrow should concern bulls.

OVERALL:
The chart has turned bearish, but we are waiting for a bearish reversal confirmation to change our "Neutral" direction prediction label to a red "Short" one. Once it does, we will add further update.

Cheers,

David Alcindor | 4xQuad.com

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