AMD found a strong support
AMD Advanced Micro Devices has found a strong support on the middle line between 2/1 and 3/1 gannfan and on the middle line between 0.618 and 0.5 fib which is also a prior support level from the move up at 74.28$. AMD made a double bot at those levels and had a very strong move to break the prior highs making new highs and with that a higher low higher high bullish structure. Next stop will be at the 50sma 2/1 line but if the momentum stays as strong as it is now it will break through it and retest it in a very short time and continue up from there. Price target is the 1.618 fib level (81.80$ level) -> 2.618 (86.59$ level) at first.
The second price target will be hit after the 50sma retest and from there we will go to the prior highs
The second price target will be hit after the 50sma retest and from there we will go to the prior highs
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.