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Advancedmicrodevices

AMD: Bullish Cup and Handle Formation 4H (Apr. 23)X FORCE GLOBAL ANALYSIS: AMD (Advanced Micro Devices) has shown incredible bullish momentum over the past year. In this analysis, we take a purely technical approach, exploring the bullish evidence for a further breakout. Technical Analysis - We have spotted a traditional reverse head and shoulders pattern on the 4H chart - This pattern has been supported by a parabolic trend line support - We have seen a small correction after the formation of the right shoulder, which could be interpreted as the handle pattern - Despite the correction, the Relative Strength Index (RSI) continues in an uptrend, creating higher lows and higher highs - The Moving Average Convergence Divergence (MACD) also shows a clear uptrend, with a potential golden cross What We Believe Though not stated in this analysis, we believe that AMD is a stock with strong fundamentals, and a lot of bullish potential based on short term technicals as well. Trade Safe.
NASDAQ:AMDLong
by XForceGlobal
1
AMD? Sp500? Nasdaq?I see the fundamentals but I dont see how these prices can be sustainable technically, by the chart its either bulls pushing the limits, or large/more buyers getting in; both making the correction (if any) all that more severe. Looking at past of AMD the M chart doesn't seem to reassure. By the chart its positioned to correct due to being seemingly over extended, especially considering the correlation to SPX500. However, both have shown resilience over the recent past. I am trying hard to resist the temptation to jump on the wagon here, as 54 still offers upside fundamentally. Either it: 1. Continues and maintains these levels a) Large investment holds withstanding selling pressure. b) New buys cash out sellers. c) Renewed buying pressure from old buyers/ FOMO 2. Follow through of weak points a) Temporary buying pressure subsides/ sell-off b) Change in investor perception/ limit reached. However, I imagine if money remains on the table these levels could be held artificially, all that considered its difficult for me to see past the technical with this one at the moment and I will try hard to resist the temptation to get in. W: M:
NASDAQ:AMD
by mostpro1
3