AMD has been in a bearish market for almost a year. Now, the Y downtrend cycle is nearly complete, making it a good place to look for a buying opportunity. In my view, the market will reject at S2 and form a bullish candle. However, if the support doesn't hold, the price may continue downward to complete cycle X. The good indicate to know if market on bullish trend is price can break LH on Daily Time Frame.
Support
S1@105.58, S2@102.44
RSI
b)RSI TF H4 is indicate overbought
c)RSI TF Daily almost touching 30
This is not a buy call. Just sharing Idea, Thanks
Support
S1@105.58, S2@102.44
RSI
b)RSI TF H4 is indicate overbought
c)RSI TF Daily almost touching 30
This is not a buy call. Just sharing Idea, Thanks
Trade active
The price is forming a double bottom at support, indicating a potential bullish move next week
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.