Based on History analysis quoting year 2004 when price bounced off the ground price made a high as it did recently and then retrace back to 50% before to make a next move up. The 50% Fibo retracement Level from Current Very low 1.61 to Very high 15.65 matches to 127% retracement from Low 9.85 to High 15.65 of the current trend. resulting the bottom price is 8.27. Price will come down to 8.27 before to make a new high above 15.65.
Nice job on the AMD. I would wait until the price has broken below the area of resistance at or around the 12.00$ or 50% fib. It has been tested and I'm not sure of the relevance of the 2004 numbers as opposed to what we see there today. I'm not getting short there yet but soon maybe. Thanks
sunlight086
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@brucechunmecom, Up Channel is clearly broken. Probably History will repeat I believe. 50% Retracement from the bottom recent lows to the recent high using Weekly chart will give an idea where the price is going.