Will Wong
Long

AMD: After a huge move from $9 to $35, AMD is poised for a rest.

NASDAQ:AMD   Advanced Micro Devices Inc
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Typically wave 2 retraces Fib 50% of wave 1 move but because of the strength shown in wave 1, I have included the possibility of a Fib 23.6 and 38.2 as well. The MACD has already turned. A double top was also printed when it failed to break the last high.
Sep 27
Comment:
Sep 27
Comment: Sorry wrong chart of NQ1
Oct 03
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Oct 03
Comment: I prefer another leg down to complete wave 4 with a double bottom. Hopefully this will provide another opportunity to get in

Oct 05
Comment: AMD: There is a lot of interest in AMD and I have to provide the EW perspective on what is happening. Wave 4 is currently in progress and coincides with a market wide correction. There is a lot of debate whether wave 4 correction is over. From an EW's perspective, we start with what is typical which would be a Fib 38.2% correction of wave 3's run . Then we should also calculate the length of sub (v) of C as well as the presence of any gaps. The Most typical Wave A = Wave C was surpassed early on. It looks like the Fib 38.2 level coincides with the Sub (v) = 1.0 Sub (i) level and also coincides with the level of Sub (iii) a position that can be called a double bottom. This is therefore my preferred count. I have also presented two alternate counts at Fib 50% and lower because of those nasty gaps below. My philosophy is OWAAT (One Wave at a time)

Oct 08
Comment: MACD hasn't shown signs of turning yet. Maybe a gap fill below and S2 holding

Oct 21
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Oct 24
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Oct 25
Comment: It turns out that this was the correct count in the first place. Fib 50% takes it down to $17++ which is about where it will end up today after that epic ER fail yesterday.
Oct 25
Comment: This was the preferred count all along. You can see from the first chart that Wave (II) target was $18, $21, or $26

Essentially the best time to buy would be when it starts heading back up, when do you think that will be? You chart seems so estimate some time in mid 2019
Reply
PierreVisconti PierreVisconti
It would also be interesting to note that AMD will be releasing their new GPUs around that same time period as well.
Reply
Will Wong PierreVisconti
@PierreVisconti, I have posted an alternate count. Check it out. The price action seems to prefer the alternate count which is a wave 4 triangle correction and a breakout to wave 5.
Reply
Thanks for the perspective!
+1 Reply
Hello will, you mentioned double top reached but target 1 is 35$ ..... does that mean you are still expecting to go to 35$ before heading down for a pause ?
Reply
Will Wong traderhr77
@traderhr77, no. $34++ is close enough.
+1 Reply
traderhr77 Will Wong
@Will Wong, got you .... thank you
Reply
Nice..tks
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