$AMD - Weekly outlook (log scale)
Potential long term (2+ year) equity play
AMD looks to be in a cycle wave 4, with wave 3 following the path of the pitchfork perfectly since 2018. It is now approaching the 1-STD from the median line, which coincided with the 78.6% retracement of the previous sub-wave 4 to sub-wave 5.
There could be a good opportunity (25 R:R) to go long in the low 80's with a stop around 72. Potential targets of 140, 220 and eventually 325.
AMD looks to be in a cycle wave 4, with wave 3 following the path of the pitchfork perfectly since 2018. It is now approaching the 1-STD from the median line, which coincided with the 78.6% retracement of the previous sub-wave 4 to sub-wave 5.
There could be a good opportunity (25 R:R) to go long in the low 80's with a stop around 72. Potential targets of 140, 220 and eventually 325.
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