$AMD TOP 20
Added 2024-12-24 11:00:59 +0000 UTC$AMD big question right now for everyone following $AMD is, is the bottom in?
This is the hourly chart above so we can get more details as it has only been one bounce so far.
But:
Price tested and held the $120 level which was a support level from the August 5th market sell off
It is also the 0.618 Fib
We can also see 3 waves down
RSI on the daily chart hit 22 when the price fell down to $117
Bulls quickly added when the price went below $120
Held above the yellow support line
Held above the 200 WMA at $114 too.
Price is now above the 50 MA on the 1hr chart now too in the PM
I suspect the next test will be the $131 red line that we trimmed at a few weeks ago and the 200 MA above at $135
But in terms of Risk v Reward here....the price action and with the above signals mentioned here indicates that adding around these levels favours the reward side right now, certainly with a potential move at the very least back to $164 over the next few weeks/months
