AMD found a strong support

26 Sep 2020

AMD Advanced Micro Devices has found a strong support on the middle line between 2/1 and 3/1 gannfan and on the middle line between 0.618 and 0.5 fib which is also a prior support level from the move up at 74.28$. AMD made a double bot at those levels and had a very strong move to break the prior highs making new highs and with that a higher low higher high bullish structure. Next stop will be at the 50sma 2/1 line but if the momentum stays as strong as it is now it will break through it and retest it in a very short time and continue up from there. Price target is the 1.618 fib level (81.80$ level) -> 2.618 (86.59$ level) at first.
The second price target will be hit after the 50sma retest and from there we will go to the prior highs