Amd - Retest, Reversal And A +100% Rally!
Updated
Amd (
AMD) will soon retest massive previous support:
Click chart above to see the detailed analysis👆🏻
After Amd perfectly retested the upper channel resistance about half a year ago, we saw a beautiful rejection and already a retest of the crucial horizontal support. Now, Amd is once again coming back to retest this support and another bullish reversal is extremely likely.
Levels to watch: $130, $260
Keep your long term vision,
Philip (BasicTrading)
AMD) will soon retest massive previous support:Click chart above to see the detailed analysis👆🏻
After Amd perfectly retested the upper channel resistance about half a year ago, we saw a beautiful rejection and already a retest of the crucial horizontal support. Now, Amd is once again coming back to retest this support and another bullish reversal is extremely likely.
Levels to watch: $130, $260
Keep your long term vision,
Philip (BasicTrading)
Trade active
Trading update on Amd (AMD):
Click chart above to see the detailed analysis👆🏻
This month, Amd was not really able to retest the horizontal structure once again, which is actually not a bearish sign at all. It is quite likely though, that going into 2025, Amd will eventually retest previous support, before we could see another bullish rally all the way up to the top of the rising channel pattern.
Levels to watch: $130, $260
Keep your long term vision,
Philip (BasicTrading)
Trade closed: target reached
Trading update on Amd (AMD):
Click chart above to see the detailed analysis👆🏻
Amd has now officially been consolidating for more than three years, which means that it is definitely time to eventually start the next bullish phase. Market structure is still perfectly bullish and after the current retest of the major support level, this could turn into the next major impulse towards the upside.
Levels to watch: $130, $260
Keep your long term vision,
Philip (BasicTrading)
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