AMD -> Targeting The All-Time-High

Hello Traders and Investors,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of AMD💪

Just a couple of months ago AdvancedMicroDevices Stock perfectly broke above a major monthly downtrend line and since then created a bullish rally of roughly 70%.

On the weekly timeframe you can see that AMD just retested previous weekly structure at the $108 level and in confluence with a 50% fibonacci retracement level I do expect the continuation towards the upside from here.

The daily timeframe however is currently not bullish on AMD and the stock is retesting resistance at the moment so I am waiting for a bullish break back above the structure before then the daily timeframe is perfectly aligning with the overall long term bullish picture.

Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈

Thank you for watching and I will see you tomorrow!

My previous analysis of this asset: