AMD Short set-up through *7/21/17 earnings report
AMD is in the midst of a primary corrective wave. the a - wave concluded at $9.85 and the b - wave -- propelled on news of that AMDS's graphics chips would be included in Apple's new generation of Macs -- is tentatively labeled at $13.40 which coincides with the unfolding NAZ correction. Primary 2 price target is $7.70 which I expect to be reached on, or just before, the est. earning date of 7/21/17 if it follows the time-signature of the proceeding a - wave.
The price target of $7.70 represents a 50% correction, and projects support in a common reversal area of wave 4 in the preceding primary wave 1. A minimum price target of $22 should be reached into spring-2018.
Short-term trend: bearish
Medium-term trend: bearish, positioning for long-term set-up to minimum price target of $22.
Long-term trend: bullish
The price target of $7.70 represents a 50% correction, and projects support in a common reversal area of wave 4 in the preceding primary wave 1. A minimum price target of $22 should be reached into spring-2018.
Short-term trend: bearish
Medium-term trend: bearish, positioning for long-term set-up to minimum price target of $22.
Long-term trend: bullish
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.