AMD: Possible scenarios - A Multi-Time Frame Analysis.
• AMD is in a critical situation, inside an Ascending Triangle chart pattern;
• To whatever side it breaks, AMD will look interesting, so let’s work with a few scenarios.
• First, by doing a downwards breakout, it’ll just resume the bearish sentiment (AMD is still bearish, keep this in mind), and the next support around $54 would be just the first target;
• Second, by doing an upwards breakout, AMD will do mid-term reversal, and in this scenario, I see it retesting the next resistance in the weekly chart (blue area), and the 21 ema as well (the 21 ema is dropping, and it’ll be at lower levels in the next weeks);
• Third, if AMD does a sideways breakout it’ll frustrate the pattern, we can’t set targets for this scenario;
• Either way, it is worth keeping an eye on AMD for now.
Remember to follow me to keep in touch with my analyses!
• To whatever side it breaks, AMD will look interesting, so let’s work with a few scenarios.
• First, by doing a downwards breakout, it’ll just resume the bearish sentiment (AMD is still bearish, keep this in mind), and the next support around $54 would be just the first target;
• Second, by doing an upwards breakout, AMD will do mid-term reversal, and in this scenario, I see it retesting the next resistance in the weekly chart (blue area), and the 21 ema as well (the 21 ema is dropping, and it’ll be at lower levels in the next weeks);
• Third, if AMD does a sideways breakout it’ll frustrate the pattern, we can’t set targets for this scenario;
• Either way, it is worth keeping an eye on AMD for now.
Remember to follow me to keep in touch with my analyses!
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