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AMD trade ideas

AMD - Potential Breakout Ahead In this post, I'll explain why AMD looks like it is in a classic Wyckoff accumulation phase and why we might see an upside breakout, despite September being a typically bearish month. I will break down the subphases of accumulation based on the Wyckoff method and analyze how volume supports this bullish structure. To support this idea, AMD has had a recent positive earnings, accompanied with a plethora of bullish news. Wyckoff Accumulation Subphases and Volume Analysis Preliminary Support (PS): This is where early buying interest stepped in, with volume gradually increasing, lime green vector candles show that larger players are starting to accumulate shares. Red vector candles at this point reflect a test of supply as the price created a resistance, with market makers absorbing sell orders to set the stage for the next phase. Selling Climax (SCLMX): The SC marked the lowest point, where panic selling peaked, accompanied by a large red vector candle. This candle represents significant selling pressure, but market makers and institutional players were stepping in to absorb it, creating the bottom of the accumulation range. Automatic Rally (AR): Following the SCLMX, the price rebounded into an automatic rally. This is a natural reaction to the exhaustion of selling pressure, with lower volume, as the market adjusts to reduced selling intensity. No aggressive buying yet, but a signal that the market is consolidating. Secondary Tests (ST): The ST retests the support level established at the SC. The second ST broke below support, accompanied by another large red vector candle. This indicates that the market makers were again absorbing the remaining supply, setting up for the next phase. The high volume reflects this absorption, confirming the presence of significant players preparing for the bullish move. Period Between the Second ST and the Sign of Strength (SOS): After the second ST, the price moved back toward the resistance formed near the PS level. Red vector candles appeared here, signaling market makers were once again testing supply at higher levels. The price tested resistance, absorbing any selling pressure, and allowing market makers to accumulate more shares without allowing the price to break out prematurely. This period is a crucial transition in accumulation, where market makers want to confirm that no large selling pressure remains before moving toward the Sign of Strength (SOS). By absorbing this supply at higher prices, market makers ensure that there’s minimal resistance when they push the price higher during the SOS phase. Sign of Strength : The SOS phase represents the first significant bullish movement, where the price rallies sharply on large green vector candles. This shows that market makers have started marking up the price after absorbing most of the supply. Volume increases during this move, confirming strong buying demand as the price tests the upper range of resistance. The green vector candles are a sign that market makers are starting to push the price higher, preparing for the final shakeout. Spring: The spring comes after the SOS, where the price drops below the established support for a final shakeout. The goal here is to trap weak hands, triggering stop losses and forcing retail traders to exit their positions. This move down is marked by red vector candles, indicating significant selling pressure, but again, it is being absorbed by larger players. High volume during the spring signals that market makers are buying into the drop, absorbing the last bit of supply before the upward move. Test: After the spring, the test occurs at lower volume, confirming that no significant selling pressure remains. Smaller green and red candles appear during the test, suggesting that the market is now balanced and ready to move upward.
NASDAQ:AMDLong
by OnlyProfits888
Technical Analysis on AMD (Advanced Micro Devices)Analyzing the historical performance of AMD , a key turning point is evident that marked the beginning of the current bullish phase—starting at the end of 2015. During this period, the stock held an important support level, followed by a decisive breakout of the bearish trendline. On a daily timeframe, this breakout was accompanied by a gap up, known as a breakaway gap. During the upward phase, the stock experienced pullbacks ranging from 40% to 60%. The most recent pullback, which began with a Shooting Star candle, was 45% and stopped precisely at a crucial Fibonacci level of 0.618. Bullish Scenario: To confirm a continuation of the bullish trend, AMD must first surpass the $160 area and then the $190 area, a range characterized by significant volumes. Bearish Scenario: If the stock fails to exceed these two levels, it could continue its retracement by breaking the ascending trendline. Two potential entry levels can be found in the POC area around $180 and the support area around $95.
NASDAQ:AMD
by Giovanni_Bandini
AMD 8/30/2024Chart Overview: Time Frame: 1-hour chart Indicators: Trendlines, price levels, RSI (Relative Strength Index) Key Levels: Resistance Levels: 151.90: This level is a strong resistance that AMD needs to break through to continue an upward move. 149.47: A lower resistance level, which could act as a hurdle before reaching the 151.90 resistance. Support Levels: 137.88: This is the first significant support level, which may act as a bounce zone if the price declines. 132.44: A secondary support level, indicating a strong base. 127.10: The lowest support level visible on the chart, which would be a critical area if the price falls dramatically. Trendlines: Descending Trendline: There is a downward sloping trendline from the recent highs, indicating that the stock is in a short-term downtrend. The price is currently testing this trendline, which could signal a potential breakout or further rejection. Ascending Trendline: Another trendline is drawn from the recent lows, suggesting a potential wedge or triangle formation. This indicates consolidation and potential for a breakout. Key Order Blocks: Red Order Block (Supply Zone): Location: The red zone is around 151.90 - 145.00. Significance: This area represents a strong resistance level where significant selling pressure occurred previously. When the price enters this zone, it might face resistance as sellers look to push the price back down. The concentration of sell orders in this area could lead to a reversal or slowdown in upward momentum. Scenario: If the price breaks into this order block, especially above 149.47, it might struggle to continue upwards as it encounters selling pressure. However, if it manages to break above the red order block (especially above 151.90), this could signal a strong bullish breakout. Green Order Block (Demand Zone): Location: The green zone is around 137.88 - 132.44. Significance: This is a demand zone where significant buying pressure previously existed. When the price drops into this area, it is likely to find support as buyers step in, potentially pushing the price back up. This zone acts as a floor, preventing further declines unless broken decisively. Scenario: If the price retraces and enters this green order block, you might expect some buying interest, leading to a bounce. However, if the price breaks below this area, it could indicate a further bearish trend, targeting the next support level around 127.10. Strategy with Order Blocks: For Bulls: Entry Point: If the price pulls back into the green order block and shows signs of support (like a bullish candlestick pattern or a bounce), consider entering a long position. Target the red order block as your next resistance level. Breakout Strategy: If the price breaks above the red order block (especially above 151.90), it could signal a strong move upwards. This breakout could be an opportunity to add to a long position or enter a new one. For Bears: Entry Point: If the price enters the red order block and shows signs of resistance (like a bearish candlestick pattern or rejection), consider entering a short position. Target the green order block as your first support level. Breakdown Strategy: If the price breaks below the green order block (especially below 132.44), it could indicate a further decline, with the next target around 127.10. RSI Analysis: The RSI is near the middle, not showing any extremes, but it may be slightly oversold given the downward momentum. This neutral RSI means the price could swing in either direction depending on how it interacts with key levels and trendlines. Possible Scenarios: Bullish Scenario: If AMD breaks above the descending trendline and then surpasses the resistance at 149.47, it could attempt to reach the next resistance at 151.90. A breakout above this level would be a strong bullish signal. A move above 151.90 could lead to a continuation towards higher levels, with potential to reach the 160.00 zone. Bearish Scenario: If the price gets rejected at the current trendline and fails to break 149.47, it may retrace towards the support at 137.88. A break below 137.88 could accelerate the downward move towards the next support at 132.44, and potentially to 127.10 in a more bearish scenario. Volume Analysis: Volume: The volume seems to be lower during the recent consolidation, which is typical before a potential breakout. A surge in volume on a breakout would confirm the direction. Strategy: For Bulls: Look for a breakout above the descending trendline and resistance at 149.47. If confirmed with volume, consider entering a long position with a target near 151.90 or higher. A stop loss below the ascending trendline might be prudent. For Bears: If the price fails to break above 149.47 and shows rejection, consider shorting with a target near 137.88. A break below this level could lead to further downside, targeting 132.44 or 127.10. This setup requires close monitoring, especially around the key levels and trendlines, to determine the most likely direction.
NASDAQ:AMD
by BullBearInsights
1
Technical Analysis for AMD 8/29/2024Current Market Context: Price Movement: AMD is currently trading downward, with the price breaking below key support levels. This decline is likely a result of broader market sentiment following NVDA's earnings report, which has impacted tech stocks, especially those related to semiconductors. Volume: The trading volume has increased as the price dropped, indicating strong selling pressure. This is often a sign that the downtrend may continue until a significant support level is reached or the market sentiment changes. Key Levels to Watch: Support Levels: $138.11 - $137.85: The immediate support zone is around $138, where the price has tested multiple times on the hourly chart. A bounce from this level could occur if buyers step in. $127.10: This is a critical support level from previous trading sessions. If the price breaks below $138, this is the next level to watch. Resistance Levels: $140.93 - $144.00: If the price bounces from the $138 support zone, expect resistance around $141-$144. The price needs to break above this range to indicate a potential reversal. $148.32: A break above $144 could lead to a test of this resistance, which coincides with the previous high before the recent downtrend. Indicators and Patterns: Stochastic Oscillator: The Stochastic RSI at the bottom of the chart shows that AMD is currently in oversold territory. This could indicate a potential bounce, especially if the support at $138 holds. Downtrend Channel: The price is moving within a downward-sloping channel. As long as the price stays within this channel, the bearish trend remains intact. Forecast for Tomorrow: Bearish Scenario: If AMD breaks below the $138 support, the next significant level is $127.10. With the increased volume on the downside, this could be a likely scenario unless market sentiment shifts positively. Bullish Scenario: A bounce from the $138-$137.85 support zone could push the price back towards $144 or even $148.32 if buyers regain control. However, given the current momentum, this scenario seems less likely unless there is a catalyst to change the market sentiment. Trading Suggestions: For Short Positions: Entry: Consider entering a short position if AMD breaks below $137.85 with a target near $127.10. Stop Loss: Place a stop loss around $140.93 to protect against a potential reversal. For Long Positions: Entry: Look for a bounce around the $138-$137.85 support level. If the price action shows signs of reversal (e.g., bullish candlestick patterns or increasing volume on the upside), consider going long. Exit: Target the $144 resistance level for a quick exit. If the price breaks above $144, consider holding until $148.32. Overall Market Sentiment: Given the current market conditions, a bearish outlook seems more probable for AMD unless a reversal pattern emerges near key support levels. Keep an eye on broader market trends and any news that could impact the tech sector, especially semiconductor stocks.
NASDAQ:AMD
by BullBearInsights