4xForecaster

Update: Week In Review/Forecasting | #AMD #NYSE

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Friends,

Over this past trading week, we offered predictive analyses and forecasts for most major indices , and decided to dissect into the major organs of these benchmarks.

In AMD             , we called for a bearish market signal which lacked the bearish market reversal confirmation. And this remains true still as of this market closing day.

We had initially offered lofty targets and defined a probable floor at 4.05. However, in no time, our directional bias was perturbed by a major price-moving fundamental news release, as price was moving towards a pre-existing channel bottom. A review of the move allowed us to define a lower, more solid support, and indeed, a coiling price has remains ensnared around that forecast support.

OVERALL:
No change in our directional stance as we await said bearish market reversal confirmation; Looking ahead, a break below the channel bottom would infirm the bullish targets.

Original Chart:
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Update: Projected Channel-Low Holds Up | #AMD #NYSE


Cheers,


David Alcindor | 4xQuad.com
Predictive Analysis & Forecasting


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David Alcindor, CMT Affiliate #227974
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)

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