$AMD TOP 20
Added 2024-07-26 11:52:00 +0000 UTCThe impulse structure we had used invalidated yesterday when the $141 level was broken, so it meant we were not in Wave 5 as a lower low was made.
That being said, we still have not infringed below the top of Wave 1 yet at $133, a break below this level and the entire impulse structure is not valid, so not just the Wave 5.
Losing the 200 Day MA and the 0.5 Fib is certainly showing weakness and the 0.618 Fib at $120 is possible but if bulls can keep the price above $133 and the market manages to recover, this can move higher.
PCE is out in 40minutes so we will have more information then but the PM is certainly showing positive signs in the PM now.
I would not be considering buying here until the 200 Day MA is converted to a support level, being below the 200 Day MA means there is still a large risk of a flush down to $120.
Comments
Is it possible that wave 3 actually started mid Oct. 22? If so, then wave 4 would still be valid, right? Either way I am waiting for the 200DMA to convert to support. Lets hope earnings are good news!
Minus0
2024-07-28 14:51:16 +0000 UTCok. Taken note🙏
Jedi
2024-07-26 12:04:14 +0000 UTCTech sell off, $NVDA yesterday was dangerously aggressive to the downside at the opening
Gareth Neary
2024-07-26 11:58:17 +0000 UTCwhat caused this AMD to sell off so drastically
Jedi
2024-07-26 11:57:07 +0000 UTC
