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EBITDAtiger
Mar 10, 2021 11:27 PM

AMD update: potential path based on technical analysis Long

Advanced Micro Devices, Inc.NASDAQ

Description

No death cross on the daily chart. The stock has significant support at the $73.90 level. Most recent resistance at the $87.10 level.

4H Chart Looking Bearish Short-term but on the verge of a reversal back into bullish sentiment.


We'll see how this plays out with stimulus just being announced with the backdrop of a global semiconductor shortage. It could be choppy, be careful. There could be some chop while the chip shortage is resolved and the tech sell-off finishes, but this should be a good medium-term trade/investment to start building a position in.

Buy under $80.
Price Target $100-115
Stop Loss $70.
Comments
joshuaanthony51684
AMD TO THE MOON! BULLISH ONLY!
EBITDAtiger
@joshuaanthony51684 amen to that brother! I’m loading the boat!! 📈🚀
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