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
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Woe