This month Amd perfectly retested and already rejected the previous resistance which was turned support after the bullish breakout. Following the overall swings inside of the rising channel formation, I do expect Amd to create new all time highs over the next months.
With the recent bullish break and retest, Amd is now heading for another bullish impulse, targeting new all time highs. Even if Amd retests the support again, you can use this retest as a buying opportunity because everything still remains very bullish.
The bullish market structure on Amd still remains unchanged and everything is pointing towards another bullish move with new all time highs. However, Amd can once again retest the previous horizontal structure before it will start the reversal and bullish continuation.
It seems like after the short term dip this month Amd finally found the expected bottom and is now starting the bullish continuation towards the upside. New all time highs are clearly on the way, it will just definitely take some time to get through all the overhead supply.
It just feels so good that another analysis is playing out perfectly. Just following simple market structure, Amd is now heading back to the previous all time high. This was just a simple bullish break and retest, followed by bullish confirmation on the smaller timeframes.
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