AMD To all my folk in AMD, please share some thoughts: -Reanalyzed AMD after NVDA earnings, expected it to drop, but had not and rather retested (expected it to continue its bearish channel). New pattern for overall: Descending Triangle (but is expected to seem bullish as 2025 is said to be a major year -MACD coming to a close, MDA 9 below 50 at a fair price, RSI below 40 -From AMD's big rally to now, $134 as always been a strong level and past day rejected off of it. For Aug 5., though it did not bounce of it, the price did retest at the 78.6% Fibonacci at $122 What are your thoughts? Is this the rally back up? Will AMD keep on falling? Price levels to watch: $122 (Fib 78.6%), $142 (Fib 61.8%)
AMD overall is wedged in a triangle pattern, and with the current after-market trading showing a downward trend, it seems there could be a bearish breakout potentially reaching the $132–$134 zone, as both levels have been retested previously. Until then, keep an eye on tomorrow's premarket activity.
AMD $137 Zone mad resistance. Anywhere if the stock closes $136.5 and below, AMD likely to go bearish. For bullish movement, it'll have to jump $138 otherwise we'll just be in a consolidation zone for Friday.