AMD has had several nice breakouts recently, but overall it still seems to be lagging behind other semis. This stock hasn't been the same since it rejected hard after making a new ATH earlier in the year. It really hasn't moved much, despite shorter term breakouts. It tends to end up around where it started.
Maybe this time is different, it has broken out of two shorter term downtrends and is looking to establish a new uptrend. I think it could struggle at a previous high around $175, but ultimately I think the supply zone shortly above will be where the reversal occurs. If it's able to break through supply and sustain, it should be in good shape to eventually test ATH again.
Maybe this time is different, it has broken out of two shorter term downtrends and is looking to establish a new uptrend. I think it could struggle at a previous high around $175, but ultimately I think the supply zone shortly above will be where the reversal occurs. If it's able to break through supply and sustain, it should be in good shape to eventually test ATH again.
Note
Great day for AMD bulls, but it's coming into supply now. I'd want to see it break above and retest before longing.
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You reap what you sow.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.