AMD: Complete Multi Time Frame Analysis (H, D and W charts)!
Hello traders and investors! Let’s see how AMD is doing today! It has been a while since I analyzed it, so we have a lot to update. This is going to be a Multi-Time Frame Analysis (MTFA) and we’ll study the 1h, D and W charts.
First, in the 1h chart, we see that the short-term trend is clearly bullish, the only problem is the resistance at $ 106, which worked as a resistance multiple times in the past.
Now it is the best time for a pullback to the 21 ema, and this wouldn’t ruin the bull trend – in fact, it would be an opportunity to buy at a cheaper price. If we break this resistance, we’ll seek the next resistances in the daily chart:
Considering that AMD did a false breakout from the previous support at $ 106.98, and that we have a congestion in the mid-term, we can assume that AMD will seek the next resistance at $ 114.49. But remember: We must defeat the first resistance in the 1h chart.
This congestion is annoying, but it seems to be just a sideways correction when you analyze the long-term trend:
In the weekly chart, AMD is in a clear bull trend, and the pullback seen in the past weeks might be just the price trying to get closer to the previous support level around the $ 99s (black line). In addition, we are just above the 21 ema.
Now that AMD reached this support, it is doing a nice Bullish Engulfing, a classic bullish reversal pattern. The only thing I miss is a good volume, but we have more positive signs than bearish.
Let’s follow AMD closely from now on, and remember to follow me to keep in touch with my daily updates, and please, support this idea if you liked it!
Have a good day!
First, in the 1h chart, we see that the short-term trend is clearly bullish, the only problem is the resistance at $ 106, which worked as a resistance multiple times in the past.
Now it is the best time for a pullback to the 21 ema, and this wouldn’t ruin the bull trend – in fact, it would be an opportunity to buy at a cheaper price. If we break this resistance, we’ll seek the next resistances in the daily chart:
Considering that AMD did a false breakout from the previous support at $ 106.98, and that we have a congestion in the mid-term, we can assume that AMD will seek the next resistance at $ 114.49. But remember: We must defeat the first resistance in the 1h chart.
This congestion is annoying, but it seems to be just a sideways correction when you analyze the long-term trend:
In the weekly chart, AMD is in a clear bull trend, and the pullback seen in the past weeks might be just the price trying to get closer to the previous support level around the $ 99s (black line). In addition, we are just above the 21 ema.
Now that AMD reached this support, it is doing a nice Bullish Engulfing, a classic bullish reversal pattern. The only thing I miss is a good volume, but we have more positive signs than bearish.
Let’s follow AMD closely from now on, and remember to follow me to keep in touch with my daily updates, and please, support this idea if you liked it!
Have a good day!
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