Possible $AMD direction
Updated
Creating a range box from October 2020-July 2020 and duplicating it to the range of July 2020-today(March 2020) we can see that it is at the bottom of the range box right now and has a possibility of filling the gap that was created in June 2020 which explains the third range box(furthest right). I also used Fibonacci patterns to draw where the initial drop would end in the new range box. However the range box is not complete and could go back up to around $83. It also broke out of the upward trend it was on(technically could be trading horizontally too). On TD Ameritrade’s AMD 1 year chart, the rsi is at 31(currently) and MACD lines at -3 indicating it is over sold meaning it also has a possibility of going back up. There are indicators for the price to go in both direction.
Note
Has bounced off the bottom of the range box and has not dropped into the next box yet. Continuing trading in mid 70s-80s
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.