AMD looks primed for a breakout resolution within 3 days
We are seeing weakened selling pressure on the macd, support on the daily and weekly RSI, and a triple bottom with a higher low. My personal strategy is to take profits during the run up between targets 1 and 2. I believe we will see a resolution to a breakout or dump in about 3 days.
On the fundamentals side, AMD is still short on larger chips for graphics cards and silicon, but they are not short on mobile graphics cards as they take less material to produce. With the news of Steam Deck mobile gaming units in December powered by AMD, along with a possible upgrade to the new PS5 and Xbox Series X powered by AMD, and strong AMD cpu laptop sales, I am very bullish on AMD in the short and long term.
On the fundamentals side, AMD is still short on larger chips for graphics cards and silicon, but they are not short on mobile graphics cards as they take less material to produce. With the news of Steam Deck mobile gaming units in December powered by AMD, along with a possible upgrade to the new PS5 and Xbox Series X powered by AMD, and strong AMD cpu laptop sales, I am very bullish on AMD in the short and long term.
The inverted chart shows a head and shoulders on the 4 hr timescale