AMD: Complete Multi Time Frame Analysis after Earnings!
Hello traders and investors! So, AMD released its Earnings today! Let’s study it today, and do a Multi Time Frame Analysis.
First, we have a quite strong support seen in the hourly chart around $ 78.42, and AMD is trading near this point right now. Any good bullish reaction could be a buy sign, as the R/R ratio of a trade near a support is always interesting.
But we must see a good reaction, otherwise AMD will just seek lower supports. Let’s look at the daily chart for more clues:
We have a Descending Triangle, and the green line at $ 78.42 is here too. The resistance at the purple trendline is quite strong as well, as AMD couldn’t defeat it yesterday.
Also, the green line is a Pivot Point, and if AMD triggers it, the next target will be the $ 73.80, which is the bottom of the Descending Triangle. This scenario wouldn’t be the end of the world for AMD, as it still would be just a pullback, and the weekly chart can show us better:
The target at $ 73.80 is very close to the 21 ema in the weekly chart, and the trend is clearly bullish here.
The Descending Triangle in the daily chart becomes a Pennant pattern in the weekly chart, which is a continuation pattern (most of the time).
The Earnings always cause some volatility, but usually, this means opportunity. And I hope this Multi Time Frame Analysis (MTFA) helped you! If that’s the case, please, support this idea, and follow me to keep in touch with my daily studies.
Have a nice day.
First, we have a quite strong support seen in the hourly chart around $ 78.42, and AMD is trading near this point right now. Any good bullish reaction could be a buy sign, as the R/R ratio of a trade near a support is always interesting.
But we must see a good reaction, otherwise AMD will just seek lower supports. Let’s look at the daily chart for more clues:
We have a Descending Triangle, and the green line at $ 78.42 is here too. The resistance at the purple trendline is quite strong as well, as AMD couldn’t defeat it yesterday.
Also, the green line is a Pivot Point, and if AMD triggers it, the next target will be the $ 73.80, which is the bottom of the Descending Triangle. This scenario wouldn’t be the end of the world for AMD, as it still would be just a pullback, and the weekly chart can show us better:
The target at $ 73.80 is very close to the 21 ema in the weekly chart, and the trend is clearly bullish here.
The Descending Triangle in the daily chart becomes a Pennant pattern in the weekly chart, which is a continuation pattern (most of the time).
The Earnings always cause some volatility, but usually, this means opportunity. And I hope this Multi Time Frame Analysis (MTFA) helped you! If that’s the case, please, support this idea, and follow me to keep in touch with my daily studies.
Have a nice day.
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