Interesting AMD - The lower high and higher low gives rise to a tapering channel/wedge
- The lower high on 10 May and higher low shapes the price action into a tapering wedge/channel (white lines)
- The median is about 88+
- MA5 has crossed MA20
- Friday found support again at 94 (previous bull flag and support)
- AMD has to show itself next week(s) by staying above 88 (also Fib 61.8) to maintain a possible breakout of the tapering channel
- If it breaks below 88, then very possible to break below channel which would come up to 85 as a support
Hourly Chart
- Sell channel for a long time recently changed to buy channel
- Was on way up when earnings brought it down to 80 but since back on track in the buy channel
My Watches
- Another lower high would mean 100/102 are near term limits
- Whether 88 offers support (Moving to 88 would mean MA5 comes down but still remain above MA20)
- If it remains in buy channel on 30mins or 1hr chart
Overall, still bullish for me on AMD but it does have to stay above 88
@TigerStars @CaptainTiger @LMSunshine @Deposit @melson
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my prediction is this rallies to $110-$115 range sometime next week, slowly pulls back to $95-$100, climbs back up to $110 by next earnings report and then blasts up to $140-$150 range by October. close the year at a new all time high and hit $200 sometime early next year.
The biggest 2023 lie is that there is a recession coming. Only history will tell the tale. But we shall see. I hope everyone is ready for an exciting week! AMD will lead the way in AI:)
AMD's price action forming a tapering channel/wedge? That's interesting, it could indicate a breakout soon.
The tapering channel in AMD's price action is intriguing, I wonder what will happen next.
Might be another rally going up to the 110 area making a new high in the next few days. But I expect a correction phase in the next month right after- back to the trendline for the daily chart
Can't wait to see if AMD can maintain its possible breakout above 88 and continue its upward trend.
With MA5 crossing MA20 and support at 94, AMD seems like a good buy opportunity.
The hourly chart shows a recent change from a sell to a buy channel, could be a good sign.
AMD is a great business, no, it’s not worth a PE of 600… and no company is.
Hope AMD can rise more, really look forward to it.
Moore now believes AMD (AMD) could generate $400M in AI revenue in 2024 and it could be as high as $1.2B if all goes right.
Microsoft is reportedly supporting the semiconductor company by supplying engineering resources and partnering with AMD to develop homegrown processors for AI workloads.
Great ariticle, would you like to share it?
AMD has integrated xilinx and has victor as lisas AI right hand
Intel and AMD are building AI into PCs. It doesn’t matter yet—but it will