AMD -> Targeting The All-Time-HighHello Traders and Investors ,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of AMD 💪
Just a couple of months ago AdvancedMicroDevices Stock perfectly broke above a major monthly downtrend line and since then created a bullish rally of roughly 70%.
On the weekly timeframe you can see that AMD just retested previous weekly structure at the $108 level and in confluence with a 50% fibonacci retracement level I do expect the continuation towards the upside from here.
The daily timeframe however is currently not bullish on AMD and the stock is retesting resistance at the moment so I am waiting for a bullish break back above the structure before then the daily timeframe is perfectly aligning with the overall long term bullish picture.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint 📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
AMD
SOXS Bearish Leveraged semi-conductors ETFNVDA turned down today while SOXS rose a bit. On the 30 minute chart is shown to have
have been trending down but then reversed in the after-hours trading period albeit with
the low volumes typical of after-hours. The relative volatility indicator however showed
a dramatic reversal and will be beyond the moving average within the indicator.
Overall, I see this as a day trade for June 27th. I have marked out a tight stop loss to minimize
risk. This trade which I will enter in the premarket is expectant for 8-9% profit and so
a reward to risk of 15:1
20 Reasons for long AMD
🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️
1:✨Eagle eye: In 2016, the stock started its bullish run and created its first multi-year Bullish Order Structure (BOS) and also set an All-Time High (ATH). After a correction move last year, an important point to note is that the Point of Interest (POI) area held, indicating that bulls still have power and the stock is showing strength. It is now poised for the next impulsive move towards a new ATH.
2:📆Monthly: In October 2022, the correction move confirmed a Lower High (LH), signaling the end of the correction. Now, the price may either consolidate sideways or take a reversal impulse move. We need to consider both possibilities. If the price consolidates, the range between 98 and 110 is important, and we should only look for buying opportunities within this range.
3:📅Weekly: A very strong bullish structure has already formed, and the price has made a BOS and almost completed its corrective move. The corrective area ranges from 100 to 104. Here, we need to wait for a strong reversal signal to confirm the buying opportunity. No further signals are needed, only one confirmed reversal signal.
4:🕛Daily: A well-established bullish trend is evident, with a strong inducement and a corrective move that has filled the gap and window. The price is now approaching the most recent support area after the inducement. The most important thing to watch carefully is the confirmation of today's pro-gap. If the price closes above 112 for the next two or three days, or even today, it will provide a buying confirmation.
😇7 Dimension analysis
🟢 analysis time frame: Daily
5: 1 Price Structure: Extremely bullish
6: 2 Pattern Candle Chart: Pro-gap
7: 3 Volume: High selling volumes indicate the end of the correction, and now a confirmation of the long position is needed.
8: 4 Momentum UNCONVENTIONAL RSI: Holding above the 40 area, indicating a middle strength bullish zone.
9: 5 Volatility measure Bollinger bands: Volatility is starting to squeeze, which may lead to a temporary calm or sideways movement before a bullish move. The breakout of the squeeze will provide final confirmation.
10: 6 Strength ADX: Completely sideways.
11: 7 Sentiment ROC:
✔️ Entry Time Frame: Daily
12: Entry TF Structure: Bullish
13: Entry Move: Initial impulsive move
14: Support Resistance Base: The most recent Order Structure (OS) after the inducement acts as strong support.
15: FIB: Not activated yet. Additionally, a breakout of the hourly trend line will provide an additional confirmation.
☑️ Final comments: Buy at confirmation.
16: 💡Decision: Go long.
17: 🚀Entry: 112
18: ✋Stop Loss: 104
19: 🎯Take Profit: 148
20: 😊Risk to Reward Ratio: 1:6.5
🕛 Expected Duration: 30 days
Advanced Micro Devices (AMD) | Technically a Good Opportunity!Hi,
Advanced Micro Devices (AMD), have been waiting for that pullback and here it is.
Advanced Micro Devices designs microprocessors for the computer and consumer electronics industries. The majority of its sales are in the personal computer and data center markets via CPUs and GPUs. Additionally, the firm supplies the chips found in prominent game consoles such as the Sony PlayStation and Microsoft Xbox. AMD acquired graphics processor and chipset maker ATI in 2006 in an effort to improve its positioning in the PC food chain.
Technically the area around $100 is the key level for AMD. Again, this round number, this psychological number plays a big role on the stock charts. Technical analysis is not so hard just observe these nr's, and you should be okay ;)
To the point, let's describe and count the criteria which make me think that this shown box can be a good spot to grab it:
1. The round number $100 is one of them in the list which can act as a good support level but around it has several quite good criteria which match with it...
2. The strong horizontal price zone. The strongest criterion and probably the strongest price range on the entire AMD chart. We have quite a few things which confirm it. Firstly, $90 to $105 has had multiple rejections in either direction since the end of 2020. It has worked as a support level, it has worked as a resistance level - 9 times this range has changed some direction on the chart.
The second confirmation that it is a strong area is the breakouts. In July 2021 the price of AMD managed to break the first time above $100 and made a perfect retest after that which guides the price to ATH levels. The break was made with a strong and powerful candle. The power is needed to make this happen. This time we have two strong weekly candles smashing down the $100, so the power is there and currently we haven't seen a retest yet. We'll wait for it. So, the strong horizontal level is confirmed with strong breakouts and can act as a key support level to end the short-term correction.
3. Fibonacci retracement 38%. Fibo 38% retracement level is great when we have some sort of momentum involved in stocks. Currently, I can say and obviously, you can see, that there is momentum. Perfect match with other criteria and one extra confluence factor added to the optimal buying zone.
4. The trendline. There are two types of trendlines. One is drawn from bodies (dotted: from candle closes, from weekly closes) and the second one is drawn from wicks. Never try to draw from the wick to the body or vice versa. The trendline is the most subjective criterion considering technical analysis and the rules must have in place! Currently, the sweet spot should stay in the middle of these trendlines and it also matches this possible reversal box.
5. In general price action with new mid-term higher highs (HH) and higher lows (HL). 2022 was full of new lows without a single higher high. 2023 is the opposite, since the beginning of 2023 we have seen a strong uptrend with clean and strong higher highs and higher lows. It will give us that needed confirmation that investors are interested in and we have to figure out from where we can jump in...
- Considering technical analysis then the optimal buying zone should stay between $90 to $105.
Good luck,
Vaido
There is still room above of AMD stock !There is still room above of AMD stock !
This chart shows the Line chart of AMD shares in the last two years. The top to bottom golden section is superimposed in the figure. As shown in the figure, the recent high point of AMD stock happens to be 1.000 level of the top to bottom golden section in the figure, and the recent wave of long start bits also happens to be 2.382 level of the top to bottom golden section in the figure! So, in the future, the probability of AMD stocks will continue to break through upwards, test the 0.618 level of the golden section, and then fall back, fluctuating and weakening!
AMD -> Almost Ready For Another PumpHello Traders,
welcome to this free and educational multi-timeframe technical analysis.
On the weekly timeframe you can see that AMD just recently perfectly retested and already started to reject a major previous weekly structure zone at the $130 level.
You can also see that the next weekly support zone is at the $100-$105 area - I definitely do expect AMD to retest this support before I then do expect some bullish rejection and an overall continuation of the underlying uptrend.
On the daily timeframe you can see that AMD just created a beautiful double top formation which is a classic bearish reversal pattern so there is the possibility that we will first see more downside to retest the $105 support before we will then see a bullish rejection.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
AMD to $140 very soon - AI Bubble WaveAMD I expect to see a move higher to $140 in he coming weeks. We have closed the gap and now I see us finding support at the 50 day EMA which will lead to a reversal back to the swing highs and beyond.
This is a AI bubble which has only just begun... many of you reading this may not agree with many valuations including AMD, however I would encourage you to ride this AI wave as you can make a lot of money from it as it still has a long way to go.
AMD to close its gap?Advanced Micro Devices - 30d expiry - We look to Sell a break of 115.68 (stop at 122.08)
Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
We have a Gap open at 25/5 from 108.27 to 117.31.
A higher correction is expected.
We are trading at overbought extremes.
In our opinion this stock is overvalued.
Our profit targets will be 100.68 and 97.68
Resistance: 125.00 / 132.83 / 135.00
Support: 115.80 / 108.00 / 102.00
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AMD Bearish Short TermTwo weeks ago, I published a bearish trading idea on NASDAQ:AMD saying that I would go short if it broke $115.80. Apparently it didn't break, so didn't take any trades. Here is the link to that post:
This week, we have an interesting scenario. Its a double top on daily chart and an outside bar. Additionally there is a divergence on stochastics. On weekly chart its a failed 2U. Its seems overextended and stochastics is overbought.
Idea is to go short at low of Friday's candle ($119.90). This will trigger a 3-2D on daily and a 2U-2D on weekly. Target could be at least $115.
6 Big Tech Stocks Price Action Trend Guide |Support & Resistance- QQQ and SPY still very healthy pull back on the daily chart. although QQQ is definitely extended, but still want to see bears prove it to us first in the price action (changing of trends)
- TSLA relative strength compare to QQQ filled its gap.
- AMZN and GOOGL weaker, still cant get over its side ways range.
- MSFT and AAPL trading in its ATH range no red flags at all on its charts yet
- NVDA small red flag break of yesterdays double top with no bulls follow through and came back into the range, still need structural changes on the daily chart for it to really have any meaning
- AMD daily downtrend confirmed today
Is AMD topping out AMD's Sideways Consolidation and Bearish Harami Signal
In the market analysis, it has been observed that Advanced Micro Devices (AMD) exhibited a bearish harami candlestick pattern on the 4-hour chart, indicating a potential reversal in the stock's price direction. This pattern occurred after a period of sideways movement within a 14-point range, spanning over the past 15 days.
The bearish harami pattern suggests a possible shift in market sentiment, with the potential for a downward movement in AMD's price. The pattern consists of a small candlestick, usually representing a trading day with a narrow price range, that is completely encompassed within the previous day's larger candlestick. This formation indicates a potential weakening of the bullish momentum and a potential reversal towards a bearish trend.
Furthermore, the preceding period of sideways consolidation, marked by a range of 14 points, indicates a lack of significant price movement or direction. This consolidation phase often signifies a period of market indecision or equilibrium between buyers and sellers. Traders and investors closely monitor such consolidations as they may anticipate a breakout or breakdown from this range, potentially leading to a new trend.
Considering the combination of the bearish harami pattern and the recent sideways consolidation, market participants should exercise caution when trading or investing in AMD. Traders may consider waiting for further confirmation of a potential downward move, such as a break below a key support level or the development of additional bearish candlestick patterns. Similarly, investors might reassess their positions and monitor the market closely for any significant developments that could influence AMD's future price trajectory.
As with any market analysis, it is important to keep in mind that price movements in financial markets are influenced by a variety of factors, including market sentiment, economic indicators, company-specific news, and broader market trends. Therefore, it is advisable to conduct comprehensive research and utilize additional technical and fundamental analysis tools to make well-informed investment decisions.
AMD -> Wait For This SupportHello Traders,
welcome to this free and educational multi-timeframe technical analysis.
On the weekly timeframe you can see that AMD stock is currently retesting and already starting to reject a quite nice previous weekly resistance area at the $130 level.
You can also see that the overall uptrend is still valid, after the recent 50% pump AMD is definitely ready for a correction though so I am now just waiting for a correction back to the next support zone at the $105 level before I then do expect more continuation towards the upside.
On the daily timeframe you can see that market structure is still bullish, I am also not really interested in actually shorting AMD, instead I am waiting for a retest of the $105 area and some bullish confirmation and then I do expect another rally towards the upside from there.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset: