AMD: Has Reached a Critical Resistance Level!
In our last analysis on AMD, we correctly identified the persistent uptrend, and set our target at $162, which today, exactly two weeks later, has been reached. The link to our previous public analysis on AMD (from Sep 11) is below this post.
This is now a critical point for AMD.
Daily Chart (Left):
Resistance Test: The price has rallied from the lows and is now it hit the $162 resistance level. This level is critical as it marks a prior high from August. A break above this level could open the way for further upside toward the next resistance near $187.28.
21-Day EMA: The price has consistently remained above the 21-day EMA, confirming the bullish trend. This dynamic support has helped the stock maintain upward momentum.
Upward Trend: The overall structure shows a clear series of higher lows, reinforcing the bullish bias.
Weekly Chart (Right):
Pivot Point: On the weekly chart, the $162 area aligns with a key pivot point, making this a crucial zone to watch. If AMD can break and close above this level, it could signify a larger trend continuation toward the $187 resistance, at least.
Trendline Support: The long-term ascending trendline from the $132.83 support remains intact. The price has bounced off this trendline recently, adding further confidence to the upward movement. This trendline will continue to act as a key support level in the broader timeframe.
Conclusion:
AMD is trading near the $162 resistance, which serves as a key area for further price action. A successful break above this level could push the stock toward its next resistance at $187.28. However, failure to break this level may result in a pullback toward the $150 area, where the 21-day EMA provides support. Keep an eye on the $162 pivot point as the immediate hurdle.
For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions.
Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation.
“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
All the best,
Nathan.
This is now a critical point for AMD.
Daily Chart (Left):
Resistance Test: The price has rallied from the lows and is now it hit the $162 resistance level. This level is critical as it marks a prior high from August. A break above this level could open the way for further upside toward the next resistance near $187.28.
21-Day EMA: The price has consistently remained above the 21-day EMA, confirming the bullish trend. This dynamic support has helped the stock maintain upward momentum.
Upward Trend: The overall structure shows a clear series of higher lows, reinforcing the bullish bias.
Weekly Chart (Right):
Pivot Point: On the weekly chart, the $162 area aligns with a key pivot point, making this a crucial zone to watch. If AMD can break and close above this level, it could signify a larger trend continuation toward the $187 resistance, at least.
Trendline Support: The long-term ascending trendline from the $132.83 support remains intact. The price has bounced off this trendline recently, adding further confidence to the upward movement. This trendline will continue to act as a key support level in the broader timeframe.
Conclusion:
AMD is trading near the $162 resistance, which serves as a key area for further price action. A successful break above this level could push the stock toward its next resistance at $187.28. However, failure to break this level may result in a pullback toward the $150 area, where the 21-day EMA provides support. Keep an eye on the $162 pivot point as the immediate hurdle.
For more detailed technical analyses and insights like this, be sure to follow my account. Your support helps me continue providing valuable content to help you make informed trading decisions.
Remember, real trading is reactive, not predictive, so let's stay focused on the key points described above and only trade when there is confirmation.
“To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate.” — Jesse Lauriston Livermore
All the best,
Nathan.
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