wolfah
Long

AMD (19) Falling wedge!

NASDAQ:AMD   Advanced Micro Devices Inc
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6
201 4
AMD Consolidation seems to be over! Rally starts prob. on Monday, Tuesday (Wave 3).
Comment: Further details:
from line studies (wedge formation): Peak at 13,30 (1) and Low at 11,21 (2) with a preceeding exhaustion gap! A more detailed view shows, that the upper reistance line could be steeper, with a breakout at 09:30. From there, the price "walked" down the line until 13:30 with low volume. - AMD's price target could be at $ 13,30. Alternatively (according to Bulkowski), (1)-(2)= $ 2,- x 0,70 = 1,40. Then, $ 11,42 + 1,40= $ 12,82 as another target. If all findings are valid, the correction should be over, but please keep in mind, that a retest of the support-line could also be possible.

from Elliott counts (1min): AMD has finished a "Minute"-wave 2 (0,76 Fib. retracement) ABC-correction and is now in a "Minuette"-wave 3 with a probable target at $ 12,31 ( as a Extension 3) The target on a "Minute"-scale on a daily chart could be $ 16 (as a Extension 3) at 2017-06-22.

Let's see what happens next.
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Comment: Yesterday, AMD made another wave 1 and 2. ("Subminutte"). Targets unchanged.
Comment: SORRY, "Subminuette"-wave 1 and 2are a 3 and 4 of the same wave-degree.
Yesterday, AMD finished "Subminuette" wave 5, "Minuette"-wave 3 and is now in
a 4 with a prob ZIGZAG - pattern. Targets for this correction are:

1.: Fib. 0,24 ($ 12,52)
2.: Fib. 0,382 ($ 12,27) If this is the case, the following "Minuette"-wave 5 would be extended (Extension5) with target beyond $ 15,-.

Target for "Minute"-wave 3 ($ 16,-) is still valid!

Knock on wood!
In addition, If I may. The 1.618 extension from that 11.21 mark is 14.75. Looks good this week and if it continues the rest of the month out like this, next month should be good as well.
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wolfah sup3rjade
@sup3rjade, Thanks for your comments, Wolf
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@wolfah, Yup! Good luck to you
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wolfah sup3rjade
@sup3rjade, Same to you, thanks
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