LONG AMD 2.5-4week 5th wave rally upcoming

14 Jun 2020

AMD: Current price $53.50. Target $66.00. On AMD we see incredibly powerful potential for massive swing upwards into a symmetrical triangle thrust to
a target of $66.00 within the next month. After a rapid "COVID Crash" recovery into almost making new ATH AMD lost all momentum mid May. The price action has mostly existed within a contracting range since, apart from wicks and failed premature breakouts. After completing it's 3rd touch amidst these walls price crept up the support line finding no sellers and only "Fakeouts" to the downside. On June 9th after all the tension the price exploded upwards completing the 4th touch and for a day kept going, almost as if a total breakout was imminent. Then the very next day the price was taken all the way back to the support trendline , completing the 5th and what I believe to be the final touch before the next major wave upwards.

14 Jun 2020

Nota

Additional hourly view with key takeaways from 6/12 close. We see a clear bullish reversal to hold above triangle support line and also great enough to break above bull flag. With momentum and a break through $56 Target can be reached within less than 3 weeks if surrounding market is at least somewhat positive.

14 Jun 2020

Nota

TLDR: Buy above $53.5, baby target $56.00. Big boy target $66.00.

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