AMD - Breaking Out of Descending Triangle
Price double bottomed on Jan 28 signaling the end of the prior downtrend and start of a new uptrend. Currently price is stuck in a temporary consolidation - a descending triangle - and is likely to resolve higher. MACD also suggests an uptrend in price. Look to enter on a breakout past resistance of this triangle. Place stops right below entry (around $123) and take profits at $128 - an area of significant resistance.
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