AMD Update ! Possible End of Correction ! Long to 189 USD!
AMD is still strongly bullish stock. It can reach to 189 or even above 200 targets at the end of usual wave structure!
Why I used the word "USUAL " ? because there are some alternative major and minor valid wave counts. What I propose here is the one I suppose to be the most probable !.
If true! the correction of labeled wave iv (circled) is finished yesterday or we are very close to the end of correction! See? Here there are again two possiblies ! However, there is no much difference between them ! just a minor difference ! Two correction possibilities are shown on the chart and I will explain them later in this publication.
In the next bull run AMD is going to complete the final leg up ( circled wave v) of the wave cycle which labeled as wave 3 around 189 USD. This target is obtained by confluence of 0.618 Projection of circled i-iii waves from base of circled wave iv and 1.618 extension of circled wave iv from top of circled wave iii and also top of parallel channel !
If market choose our predicted path , It will be at our target at the time of next Earning Report ! Top of channel Break out and make a path for eve higher targets and make us to provide a major update? or lower than expectations ER and starting a decline as predicted? Too soon to judge but we certainly follow!
Stochastic is in oversold zone and making a bullish cross which can support our idea well.
Labeled circled wave iv correction can be traced beautifully inside a minor down going channel. Price reacted to base of this channel well and strongly however, there is possibility to hit it one more time to complete the alternate correction scenario !
What are alternative correction scenarios?
1. First is double zigzag. in this case our proposed correction is already finished and the bull run is started.
2. Second is regular flat correction . In this case one more tiny leg down is expected which can be just a shadow below yesterday low to complete the final wave c structure .
3. Third is triple three correction which is still possible but it is too soon to talk about.
As you see Elliott Practicing is art of dealing with possibilities not certainties! I will publish an educational idea on the subject soon.
All in All , I am strongly bullish on AMD, any other possibility may deviate from our bullish scenario in short term but in mid term as I previously emphasized all scenarios suggest very high targets.
please do not hesitate to ask any questions if it is needed.
Good luck my friends and wish you considerable profits.
Why I used the word "USUAL " ? because there are some alternative major and minor valid wave counts. What I propose here is the one I suppose to be the most probable !.
If true! the correction of labeled wave iv (circled) is finished yesterday or we are very close to the end of correction! See? Here there are again two possiblies ! However, there is no much difference between them ! just a minor difference ! Two correction possibilities are shown on the chart and I will explain them later in this publication.
In the next bull run AMD is going to complete the final leg up ( circled wave v) of the wave cycle which labeled as wave 3 around 189 USD. This target is obtained by confluence of 0.618 Projection of circled i-iii waves from base of circled wave iv and 1.618 extension of circled wave iv from top of circled wave iii and also top of parallel channel !
If market choose our predicted path , It will be at our target at the time of next Earning Report ! Top of channel Break out and make a path for eve higher targets and make us to provide a major update? or lower than expectations ER and starting a decline as predicted? Too soon to judge but we certainly follow!
Stochastic is in oversold zone and making a bullish cross which can support our idea well.
Labeled circled wave iv correction can be traced beautifully inside a minor down going channel. Price reacted to base of this channel well and strongly however, there is possibility to hit it one more time to complete the alternate correction scenario !
What are alternative correction scenarios?
1. First is double zigzag. in this case our proposed correction is already finished and the bull run is started.
2. Second is regular flat correction . In this case one more tiny leg down is expected which can be just a shadow below yesterday low to complete the final wave c structure .
3. Third is triple three correction which is still possible but it is too soon to talk about.
As you see Elliott Practicing is art of dealing with possibilities not certainties! I will publish an educational idea on the subject soon.
All in All , I am strongly bullish on AMD, any other possibility may deviate from our bullish scenario in short term but in mid term as I previously emphasized all scenarios suggest very high targets.
please do not hesitate to ask any questions if it is needed.
Good luck my friends and wish you considerable profits.
Comment:
Well. Double zigzag correction is nor rejected. Lets see if flat correction works. If not, I will think seriously about extended wave 5 for wave count.
Comment:
We saw the possibility of extended wave 5 several weeks ago. If AMD go down further we will think about it more seriously:
Note the warning in red and its related target on the left side chart.
Note the warning in red and its related target on the left side chart.
Comment:
I will publish most pessimistic scenario for AMD soon as I see it. It is still bullish in mid and long term even with that scenario.
