🟢 Bullish Pennant. Watch for breakout. Target: $100
Updated
Greetings. I'm bullish on AMD, based on the pennant pattern forming on the daily chart. AMD was in consolidation for (3) months before making an explosive move to the upside on 22 July. I expect the uptrend to continue, although AMD may decide to consolidate longer before continuing the bullish trend.
If price breaks above resistance, my initial target is $100.
Happy Trading!
If price breaks above resistance, my initial target is $100.
Happy Trading!
Note
As we get closer to the apex of the ascending triangle (used to be a pennant), I expect an explosive breakout above resistance, which I think will occur next week, largely based on the bullish harami candle pattern that formed 27-28 Aug. Target is still $100.Happy Trading!
Trade active
BTO 10/16 AMD $100 C
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