Technical Analysis on AMD (Advanced Micro Devices)

2024年8月31日

Analyzing the historical performance of AMD, a key turning point is evident that marked the beginning of the current bullish phase—starting at the end of 2015. During this period, the stock held an important support level, followed by a decisive breakout of the bearish trendline.



On a daily timeframe, this breakout was accompanied by a gap up, known as a breakaway gap.



During the upward phase, the stock experienced pullbacks ranging from 40% to 60%. The most recent pullback, which began with a Shooting Star candle, was 45% and stopped precisely at a crucial Fibonacci level of 0.618.



Bullish Scenario:
To confirm a continuation of the bullish trend, AMD must first surpass the $160 area and then the $190 area, a range characterized by significant volumes.

Bearish Scenario:
If the stock fails to exceed these two levels, it could continue its retracement by breaking the ascending trendline. Two potential entry levels can be found in the POC area around $180 and the support area around $95.

2024年9月5日

ノート

In the Bearish Scenario, there is a writing error, as the POC area is around $108, not $180.

Update:
At the moment, AMD has been rejected from the $160 area.
Let’s see if it manages to break the ascending trendline.