AMD: Hit a MAJOR RESISTANCE! What's next?
• AMD is in a very strong bull trend, since it broke the $62 area, triggering an Ascending Triangle chart pattern;
• Now, AMD is in a resistance area, as seen in the weekly chart (blue area);
• This resistance area is a key point where AMD found support level multiple times in the past, and now, it is near the 21 ema as well;
• If AMD does any weakness sign in this area, it might correct again (there's no clear top sign yet, but one might occur soon);
• However, as long as it stays above the $62, the bullish bias would persist, meaning, any pullback would be anoher opportunity to buy, despite any possible short-term pullback in the next few days;
• The situation is critical on AMD, so it is very important to keep our eyes open in this area.
Remember to follow me to keep in touch with my analyses!
• Now, AMD is in a resistance area, as seen in the weekly chart (blue area);
• This resistance area is a key point where AMD found support level multiple times in the past, and now, it is near the 21 ema as well;
• If AMD does any weakness sign in this area, it might correct again (there's no clear top sign yet, but one might occur soon);
• However, as long as it stays above the $62, the bullish bias would persist, meaning, any pullback would be anoher opportunity to buy, despite any possible short-term pullback in the next few days;
• The situation is critical on AMD, so it is very important to keep our eyes open in this area.
Remember to follow me to keep in touch with my analyses!
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