AMD: Complete Multi Time Frame Analysis (H, D and W charts)!

NASDAQ:AMD   Advanced Micro Devices Inc
Hello traders and investors! Let’s see how AMD is doing today! It has been a while since I analyzed it, so we have a lot to update. This is going to be a Multi-Time Frame Analysis (MTFA) and we’ll study the 1h, D and W charts.

First, in the 1h chart, we see that the short-term trend is clearly bullish , the only problem is the resistance at $ 106, which worked as a resistance multiple times in the past.

Now it is the best time for a pullback to the 21 ema , and this wouldn’t ruin the bull trend – in fact, it would be an opportunity to buy at a cheaper price. If we break this resistance, we’ll seek the next resistances in the daily chart:

Considering that AMD did a false breakout from the previous support at $ 106.98, and that we have a congestion in the mid-term, we can assume that AMD will seek the next resistance at $ 114.49. But remember: We must defeat the first resistance in the 1h chart.

This congestion is annoying, but it seems to be just a sideways correction when you analyze the long-term trend:

In the weekly chart, AMD is in a clear bull trend, and the pullback seen in the past weeks might be just the price trying to get closer to the previous support level around the $ 99s (black line). In addition, we are just above the 21 ema .

Now that AMD reached this support, it is doing a nice Bullish Engulfing, a classic bullish reversal pattern. The only thing I miss is a good volume, but we have more positive signs than bearish .

Let’s follow AMD closely from now on, and remember to follow me to keep in touch with my daily updates, and please, support this idea if you liked it!

Have a good day!

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