AMD recently pulled back to the prior 2021 ATH after the recent earnings release. As long as the ~165 support holds, the price action is building a bull flag that should eventually resolve higher after working off some of the recent overbought momentum.
Resistance could come from multiple significant overhead measured targets between 209 and 233, which could eventually lead to a pull back to the 80 support range.
Resistance could come from multiple significant overhead measured targets between 209 and 233, which could eventually lead to a pull back to the 80 support range.
交易進行
AMD continued to build out the flag highlighted last week.At the low timeframe, price had failed breakouts on both sides as the flag completed, which is quite rare to see. The failed breakdown once again tested prior ATH price support, which once again provided an ideal entry opportunity and adequate buying to quickly reverse the move.
The price was then able to once again break over the downtrend line, and backtested the breakout on Friday.
As long as price holds the downtrend breakout, the expectation is for price to continue higher to the next resistance region > 200.
註釋
Nailed the topHit the initial pullback to 130s
Saw a bounce back to 165+
Waiting to see if we get the next leg down
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