AMD: What's Going on Next?
$Advanced Micro Devices(AMD)$
Current Price: $163.26
Technical Analysis:
- RSI Observation: The RSI (grey line on custom indicator) is currently at 35.08, indicating oversold conditions. Notably, there is a bullish RSI divergence (yellow lines on chart) with the price, suggesting a potential reversal to the upside.
Support and Resistance Zones:
- Support Zone (Purple Rectangle): Positioned around $160 to $162, this area historically attracts buying interest and may act as a catalyst for a bullish reversal.
- Resistance Zone (Purple Rectangle): Located around $182 to $185, this level could be the target for a potential upward move if a bullish reversal occurs.
Analysis and Strategy:
The bullish RSI divergence, combined with the presence of a support zone, indicates a possible bullish reversal in AMD's price. Traders may consider monitoring price action for confirmation of a bounce off the support zone and targeting the resistance zone for potential profit-taking.
Conclusion:
AMD's technical analysis suggests potential for a bullish reversal, with the RSI divergence adding weight to the bullish scenario. Traders should watch for confirmation signals and plan their strategies accordingly.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
- clipzy·04-15Wah, this AMD technical analysis quite detailed leh!LikeReport
- Toby_Chua·04-18AMD bearish with all semi stocksLikeReport