MajorLeagueTrader

🚨🚨🚨 This One Is a MUST LOOK NOW!!! (AMD)

NASDAQ:AMD   Advanced Micro Devices Inc
💰 LET'S GET INTO SOME ADVANCED MICRO DEVICES ANALYSIS!💰

1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤

(Overall Market Sentiment) 🐻 Bearish

AMD looks to be a massive rising wedge from back in 2015 lows. Notice how every major structural support and resistance now now funneled into this tight range at the very top of price consolidation. It even seems to represent 5 major waves of structure which could validate an Elliott wave pattern. I'm not the biggest fan of Elliott wave theory as I think it can be misleading, but this is a good representation of wave structure that made the pattern overall. This looks insane! I would not be surprised if once broke down it collapses. Based off o just the S&R and structure I see a major play coming. Be ready for this one! If I'm wrong I will be in shock lol.

Best of luck to you and all of your trades this week! 🤜

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🥇MLT | MAJOR LEAGUE TRADER
Comment: If it broke the top red horizontal Resistance it could squeeze some more in the wedge but for now seems under some pressure
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Comments

I know technically I know you are right and the chart looks good but I would have a hard time believing their stock would drop too much. Especially, with how much intel is bleeding (with the loss of apple buying their chips) and with how much their business model has changed from 2012 and how much market sector they now command. then again I could be looking at it through rose-tinted lense since I am loving my set up that uses their stuff
+5 Reply
@Bad_dog, hahaha it's good to hear from people like you that understand fundamentals and what's going on in the companies. I strictly just trade the chart TA. Thanks for the insight bud 😁
+2 Reply
Bad_dog Bad_dog
@Bad_dog, honestly I would almost look at it by cutting off anything older than 2015 since they went through a major restructuring. and yeah no problem it was the first stock I ever bought so it got some nostalgia attached to it :D
+2 Reply
@Bad_dog, Haha I feel that! 😁 very cool
+1 Reply
"1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤" this is how i know my calls are shit
Reply
Fantastic outlook right here. So how far down it'll go? say 40-50%? i think the whole stock market is about to experience that kind of crash :D and BTC too
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I've been waiting for this dip for a minute, to pick up a few shares. Fundamentally, (long term), this stonck is a no-brainer. NVDA as well. What chips do u think all the "A.I." we keep hearing about is going to run on.?
Reply
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