Updated

AMD Upside Potential Outweighs

Chart says it all. went short at 13.12 down to low 12's. rebought at 12.09 and see price movement bullish in short term. As of today, a close above 12.55 on the retracement imho indicates retest of the 13.15/13.17 resistance level. Will be doing 4hr chart. at a quick glance it may be forming a nice cup and handle. Remember different time intervals tell different stories and market sentiment. Chart and technical analysis selection should align with trading pattern, time line, and strategy.

*this is a continuation of a previous chart where I was bearish on share price

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**EDIT** PLEASE DISREGARD STATEMENT OF POSSIBLE CUP AND HANDLE FORMATION.

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Today appears post gap up to have formed a bullish pennant. Not by text book standards since there is no flag pole succeeding as of yet, but based on a what im saying I think the logic favors a bullish bias with a close above 12.56

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Ideally, a close above 12.56 would have been exactly what I am looking for a close at 12.55 will keep me in the game another day.

It has the potential and the mechanics of a triple bottom, a lot of investors have been chanting to buy your ticket back to the 15+ range and this maybe that ticket, but this is AMD so keep that in the front of your mind NOT the back.

it still has a definitive resistance in the 14.40's range before we ever see 15+ and that has been as tough to break out of as Alcatraz.

GLTA

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Not the ideal picture today, but sentiment remains the same. I have implemented a stop at 12.13
my entry point is 12.09

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Close above 12.33 maintains bullish bias

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Still bullish (barely) but weary, stop has changed from 12.13 to 12.04. IMHO this is mimicking 8/28-8/29 trading sessions. PT is still upper 12's

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Tagged trend line (supp) almost perfectly had my stop at 12.09 and I believe It did hot 12.08. So from the bearish gartley that was confirmed, a rise out of the ashes by way of 3x btm is seeming more likely. Do not wish, hope or chase, if your pps isn't sub 12.20 I don't see the upside till 12.33, and 12.65 are secured. stop is still active but at 12.09

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PT and exit points remain unchanged

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12.65 secured. I would say price action supports triple bottom hypothesis. Exit strategy remains unchanged 12.99-13.10 window.

therancher

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therancher