AMD is set to run after this massive consolidation. Fundamentally this company has incredible numbers and is currently undervalued. Technically, we have a cup and handle with an extremely elongated handle. The CH could push the stock to 81 if we finally break 58.88. the bull flag on the daily once we break 58.88 could push the stock to roughly 75. The sideways channel can push the stock to $70 once 58 is broken. My hype over optimistic target is around $100. I do anticipate this will blow earnings expectations away and will have a 7% rally the next day. This should then get the stock posted on the Robinhood trending which in turn will get all the fomo traders to run it even beyond 80-90.
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AMD has trend support that needs to hold or this could fall back to 49
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Coincidence that we close right on that trendline? I think not. Market was shaking longs yesterday and today. I am anticipating AMD to bounce between 56-58 prior to earnings and be ~$62 pre market after earnings. Being extremely optimistic, i expect AMD to be around 72-76 on July 31st.
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Who doesnt love doodle charts. which one will it be
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Update on AMD, I am expecting Tech to sell-off a little for profit taking. I did notice a daily head and shoulders on AMD and anticipate it to fall back to the $56 range