Asphen
2023-02-26

AMD still looks good though market is consolidating now


- Note that price action had broken out of sell channel and now still at the top side of a buy channel

- It got rejected at the top end of the buy channel and now finding support below

- Interesting key levels

==> fib 38.2 (78) - where we are now (can it hold?!)

==> fib 50 (75) - confluence with gap fill! also MA50!!! Could also have MA5 resistance!

==> fib 61.8 (70) - confluence with gap fill! also lower end of buy channel!


so, plenty of confluence of support going forward for AMD! 

Personally, I will go with the trend channel support of 70 as the support level to go for with a note on equal low at 62. Breaking below 62 is very bearish. 


Upside, above 90 has quite an overhead supply.

@TigerStars  @CaptainTiger  @LMSunshine  @melson  @Deposit  

$AMD(AMD)$ 

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Comments

  • melson
    2023-02-26
    melson
    should retrace to 72 taking into account fed rate increases
    • Asphen
      v possible. I like 70 support.
  • dghl
    2023-02-26
    dghl
    Thanks for sharing
  • ming88
    2023-02-26
    ming88
    thank for sharing
  • ming88
    2023-02-26
    ming88
    thank for sharing
  • LMSunshine
    2023-02-26
    LMSunshine
    Thanks🥰 Whoa today is TA day for you❣️
    • Asphen
      haha... I TA alot...but not always post. haha...
  • HarryCox
    2023-02-26
    HarryCox
    Why not try NVDA? It is doing much better than AMD.
    • Asphen
      it is running on AI fever now.
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