AMD bearish price target
AMD has failed to hold support after failing to breakout of the descending trend line.
The preferred price target would now be $94, which is the 61.8% retracement of the move up from $54.5 to ATHs, as well as the 1 to 1 extension of the move down from the ATH to $122 from $173.
Price is however now sitting at the 200W EMA. Should price show a bullish reaction next week, the move down to $94 may not play out. Conversely, confirmation for the move down would be obtained with a breakdown of the EMA.
The preferred price target would now be $94, which is the 61.8% retracement of the move up from $54.5 to ATHs, as well as the 1 to 1 extension of the move down from the ATH to $122 from $173.
Price is however now sitting at the 200W EMA. Should price show a bullish reaction next week, the move down to $94 may not play out. Conversely, confirmation for the move down would be obtained with a breakdown of the EMA.
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.