Signs of strength for AMD
Updated
AMD has been a laggard in the semiconductor space. However, since the bear market low it's been in a clear bull trend despite being outshined by NVDA.
It's discernible that AMD may have some cyclicality in its price action.
For the first 256 trading days from the 2022 low AMD found a high on day 161 and went into a bear trend until day 256. We are currently on day 164 since that last low. Originally I believed we topped early and would form a new low around day 256 like the last period.
AMD not rolling over back to 140 forming a base is a sign of strength. Who doesn't love a good catch up trade.
Aug 16 180C.
Invalidation is if we drop below 160.
It's discernible that AMD may have some cyclicality in its price action.
For the first 256 trading days from the 2022 low AMD found a high on day 161 and went into a bear trend until day 256. We are currently on day 164 since that last low. Originally I believed we topped early and would form a new low around day 256 like the last period.
AMD not rolling over back to 140 forming a base is a sign of strength. Who doesn't love a good catch up trade.
Aug 16 180C.
Invalidation is if we drop below 160.
Note
Looking good so far! The top level (~175) is the top of the consolidation range. Weekly open went right through it. Getting a few daily closes above this line will give more weight to this thesis. Lisa Su is bae.Note
Moon dat.Note
Failed rally, expect 140 smh
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