AMD has broke upwards through a triangle pattern and is holding above, look for this to continue higher to about the 16.4 level in the next several days
Comments
vince21798
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How do you interprete today ? We broke out from those 14.50 tops resistance level with the spike to 14.80. Now the general market pulls us down again. So on chart basis we bounced of that top area again
mych36
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@vince21798, I would say price didn't break out from the 14.5 level. I would say price tried to push past it but was pulled back. I don't like to think of resistance levels as broken once price moves past it. I like to think of them as magnets that pull price towards them. So to break past a level, price has to move past it and show it can continue fight off the magnetic pull to break away.
vince21798
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@mych36, True, what counts is where we end the day. Let's hope markets are playing with us today
mych36
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@vince21798, looks like everything is gapping lower, could be the case AMD continues down to 14.2 or 14... Regardless as long as holds above the 14 level, it means buyers are willing to come in higher than the previous consolidation level.