Hello traders and investors! Let’s see how AMD is doing today!
Since our last analysis, the $ 106 did a good job holding the price, as we thought it would, however, when we finally broke this resistance this week, AMD drops sharply thanks to yesterday’s sell-off.
Now, we see that we are having some reaction, which is good, but we aren’t near any visible support in the 1h chart, so the situation is still a little bit complex to read. In the daily chart we have more clues:
It does seem that the $ 100 area is a nice support for AMD, and it is a quite symbolic price, as it is a round number. If the volume keeps increasing, a bullish reaction might give us another buy sign, and consolidate the $ 100 as a floor for AMD.
Today it is a good start, but we must wait for more confirmation. If you liked this post, remember to follow me to keep in touch with my daily updates, and please, support this idea before you leave!
Have a good day!
Since our last analysis, the $ 106 did a good job holding the price, as we thought it would, however, when we finally broke this resistance this week, AMD drops sharply thanks to yesterday’s sell-off.
Now, we see that we are having some reaction, which is good, but we aren’t near any visible support in the 1h chart, so the situation is still a little bit complex to read. In the daily chart we have more clues:
It does seem that the $ 100 area is a nice support for AMD, and it is a quite symbolic price, as it is a round number. If the volume keeps increasing, a bullish reaction might give us another buy sign, and consolidate the $ 100 as a floor for AMD.
Today it is a good start, but we must wait for more confirmation. If you liked this post, remember to follow me to keep in touch with my daily updates, and please, support this idea before you leave!
Have a good day!
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