AMD: Complete study of the trend (H, D and W charts).
Hello traders and investors! Let’s see how AMD is doing today! This is going to be a complete Multi Time Frame Analysis (MTFA), and we'll study the hourly, daily and weekly charts!
As we thought, the $ 100 area is a strong support level for AMD, and it did a Double Bottom and an Inverted Head and Shoulders chart pattern at the same time, in the 1h chart.
This made AMD reverse the trend, and now it seems we have a sideways correction, and the price is dancing around the 21 ema. It wouldn’t be interesting to see it losing the red line around $ 104.37, as this will be a weakness sign.
We can see a sideways correction in the daily chart as well. The 21 ema is completely flat, and the volume is quite depressing. However, it is interesting that AMD is holding itself above the 21 ema in the past few days.
If we see any bullish structure in the 1h chart, above the red line we mentioned, AMD might do a bullish pattern in the daily chart too, which could work as a reversal until it hits the next resistance at $ 114.49.
In the weekly chart, the trend is still very bullish, and it seems that in the past three weeks AMD has been just trying to retest the black line as a support level again, as it was a previous resistance and a top level back in January. This movement follows the Principle of Polarity.
Let’s keep our eyes open on AMD! If you liked this analysis, remember to support this idea and follow me to keep in touch with my daily updates.
Have a good day!
As we thought, the $ 100 area is a strong support level for AMD, and it did a Double Bottom and an Inverted Head and Shoulders chart pattern at the same time, in the 1h chart.
This made AMD reverse the trend, and now it seems we have a sideways correction, and the price is dancing around the 21 ema. It wouldn’t be interesting to see it losing the red line around $ 104.37, as this will be a weakness sign.
We can see a sideways correction in the daily chart as well. The 21 ema is completely flat, and the volume is quite depressing. However, it is interesting that AMD is holding itself above the 21 ema in the past few days.
If we see any bullish structure in the 1h chart, above the red line we mentioned, AMD might do a bullish pattern in the daily chart too, which could work as a reversal until it hits the next resistance at $ 114.49.
In the weekly chart, the trend is still very bullish, and it seems that in the past three weeks AMD has been just trying to retest the black line as a support level again, as it was a previous resistance and a top level back in January. This movement follows the Principle of Polarity.
Let’s keep our eyes open on AMD! If you liked this analysis, remember to support this idea and follow me to keep in touch with my daily updates.
Have a good day!
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