AMD Elliott Wave Analysis ---
Pattern : Regular Flat
Targets :
#1- (0.786 -0.854)
#2 - ("1")
The reason for these targets :
- (Weekly 50 MA)
- Quarterly , Weekly Pivots
- Algo Retracements
- Lower Degree Parallel (Green)
Reasons for why not a "Triangle" :
- I don't think its a "Triangle Because of Volume"
, also because it seems the "RSI" won't validate it aswell so I've
put this as "Very Low Prob."
Invalidation : (Red Zone) Mostly because we'd be out of the "Parallel Channel" from AH , we would also be
above mostly all "Moving Averages" we would be above "Algos" and I would say "Geometry" at that point is not very good for"Bears"
and at that point id be inclined to say the "Low" is in if "SPX" agrees aswell.
Feedback : The reason I have it coming up more I believe we need to create some "Bearish Divergence" on the
Daily where that is met with the "Weekly 50 MA" and also the (0.5 Algo and 0.786-0.854 Extension Target)