Two possible scenarios: 1. Price goes up from this first support 2. If overall bearish sentiment in market continues, price could correct down to main support (Lower Line). $74 is a very strong support and we could see some nice bounces up if it does touch it.
What are your guys thoughts on AMD for the coming week/month?
tradingview.com/x/BR8Itdc5/. I wouldn’t mess with and till atleast the 49/50 area. And even that. I just don’t like AMD nor do I see a rock solid path for its stock.
Lilbuddadude
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@CJS04, I like your idea and agree a major correction is definitely possible. However, with heavy GPU demand, I think they will benefit greatly with their sales and growth this year, leading to more upside long term.
oerboom
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In the very short-term epoch, I don't trust any AMD support level. It has fallen through several supports in 2021. Personally I have no expectation that the ~77.43 will hold if it's tested again on 03/22-23 after this bounce. I cashed out at $82 and have no good guess as to what a sensible re-entry point will be for a new long position. I would love to eventually see the $49 mark of @CJS04 , but maybe I will be an extremely old person by that time.
Lilbuddadude
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@oerboom the $74 support is very important one. if it doesn't hold then it's for sure crashing down towards where @CJS04 says. I wont enter any positions unless I see some clear signs of either direction
catspaco234
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Not excited about the share dilution, wonder how many new shares will be issued.
Expect a dip once confirmed.???