BATS:AMD   ADVANCED MICRO DEVICES INC
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I've labeled and color-coded everything to the best my my ability to make this chart as easy to understand and read as possible: One " old " channel, two forks, and a flag. So, it appears AMD             has regained control, and stepped back into its original path it laid out when the the up trend started, in 4Q '12. Then, in Feb. '13, AMD             veered off-course into no-man's land for reasons unknown             . AMD             stayed on that path until the very end of April '13 (signified by the downward fork) until it broke out, and jumped back on track, which is why we had the super rallying of AMD             recently; it was just getting back on track, with help from many buyer's and a positive Macdee. Once getting back into its old channel it took that momentum from the rally and tried to break through the resistance, straight into another break out! And, it did breach, for 3 straight days! But, the very next day, the fourth day of would-be breakout, you have Bearish selling of AMD             , lowering the RSI to the overbought level, and putting a bend in he momentum . Not all is lot for AMD             , though. It is now just back on track where it should be, with awesome momentum indicated by the MACD . We are currently at the top of the " old " channel, still trying to break though, and at the lower supports of the upwards fork. The manufacturing of XBOX Ones should help to give AMD             some internal strength, along with the insane amount of volume that has been trading through AMD             , which we can see has a positive effect in giving AMD             internal strength and momentum . Now, until the cash flow starts going positive we may be stuck, bouncing around in this channel. But, I expect things to grow rather soon. Happy Trading!
jmalone1224
3 years ago
Looks like Fork is more true than Old Channel. We should see a candle close to the mid-point of the Fork tomorrow, although, we did have a breach through the lower portion of the Fork's support today as AMD opened low. Don't think that's anything to be concerned about considering it shot back up into its support/Fork Channel
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