After retracing a hefty 61.8% of its recent AB swing up, AMD tested and bounced off a longer term Resistence-turned-support zone @ 99. We are also seeing a bullish divergence on the daily chart.
Good chance that the correction that began on 5 Aug could be over and for the uptrend to resume. However should this rebound fail the stock went lower in the near future, then I will retest an entry at 95 as this is a very strong support level.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)
Good chance that the correction that began on 5 Aug could be over and for the uptrend to resume. However should this rebound fail the stock went lower in the near future, then I will retest an entry at 95 as this is a very strong support level.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Do give me a thumbs up if you agree. Feel free to let me know what you think! :)