Dear Traders,
After the fiasco at NVDA (lol) A lot of new investor are looking more and more into AMD which is it's direct competitor.
AMD is showing a lot of potential. RSI and MACD Histogram showing bulls are in power and price action reflects that. Looking at where the price is located I see its just under the 100 moving average (located at 20.74$) which means the bulls are entering resistance territories. They will have to break it to add some momentum and create a run. If the bulls succeed in doing so, their next resistance area would be located around 21.71$ and 22.24$ after that (200 moving average).
My Histogram shows a second green bar and a bullish divergence, which is a buy sign to me. I'll wait for confirmation. I'm looking for a good spike in volume because we will need it to create a higher high.
Let's see how this will playout on Monday. Knowing that NVDA dropped 18% ( and will drop a bit more imo), I wouldn't be surprised AMD will get more investors and bots.
Keep your eyes on the charts!
If you have any questions or any thoughts, feel free send me a PM or to comment on this TA!
If you'd like to join my Discord Channel to talk about stocks, share knowledge and have a laugh then please send me a PM so that I can link you to it!
Take care!
After the fiasco at NVDA (lol) A lot of new investor are looking more and more into AMD which is it's direct competitor.
AMD is showing a lot of potential. RSI and MACD Histogram showing bulls are in power and price action reflects that. Looking at where the price is located I see its just under the 100 moving average (located at 20.74$) which means the bulls are entering resistance territories. They will have to break it to add some momentum and create a run. If the bulls succeed in doing so, their next resistance area would be located around 21.71$ and 22.24$ after that (200 moving average).
My Histogram shows a second green bar and a bullish divergence, which is a buy sign to me. I'll wait for confirmation. I'm looking for a good spike in volume because we will need it to create a higher high.
Let's see how this will playout on Monday. Knowing that NVDA dropped 18% ( and will drop a bit more imo), I wouldn't be surprised AMD will get more investors and bots.
Keep your eyes on the charts!
If you have any questions or any thoughts, feel free send me a PM or to comment on this TA!
If you'd like to join my Discord Channel to talk about stocks, share knowledge and have a laugh then please send me a PM so that I can link you to it!
Take care!
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