Long 4HR AND Weekly ( Finishing Wave 1)

29 Jun

4HR
AMD is close to potentially finishing Wave 5 of a larger degree wave 1.

$154 is the calculate Fib extension of Wave 1+3 for a wave 5 however, there is plenty room for the stock to run with multiple $160+ Analyst upgrades.

From the Close Price on 6/27 to $160 there is a potential 11% upside.

I believe any negative sentiment on trade with Canada will dissipate sooner than later as we seen throughout the entirety of the year so far with all trade talks failing to hold the markets down.

WEEKLY
The MACD has finally finished above the neutral zone increasing bullish sentiment and strength on this one moving forward as this is a bullish signal.

On both time frames this is a very clear breakout against the Multi year Resistance channel from its previous ATH with price against within the channel showing tons of strength in momentum.

A further outlook for this stock shows a possible wave 3 on the weekly chart targeting the upper trendline at over $300.

If you feel you missed the opportunity to get a long term position, there is always a second chance on on micro wave 2. That would give you retracements down to $100, $110, and $120. I'm rounding up the Fib levels for simplicity.

I currently hold 100 shares at an average of $118 and look to add more beneath my average.
I also am holding multiple contracts with a $140 strike out until the end of July and $160 strike out until September. I do not plan on trimming any contracts until the $150 stock price.

Use this information for educational purposes only as this is not financial advice.

3 hari lalu

Dagangan aktif

The recent pull back looks to have provided some great entries, watch closely for a break of the trend line as an indication this uptrend could be reversing but with Price targets four this stock being moved to $200+, i don't think this is over just yet and the wave 5 target is still the target.