The Long Investor

$AMD TOP 20

Added 2024-07-13 17:35:56 +0000 UTC

$AMD has joined the Semi party again and with news breaking on Friday that $SMCI will join the Nasdaq 100 and replace $WBA, this might be another injection into the second tier Semi companies and rise all boats together.

We uploaded this chart late in the week and can see that the 1 Fib has offered some resistance, I don't expect this resistance to hold, it is typically not a Wave 3 completed level but it could offer an opportunity for the price to pull back to find a higher low support, this is what I am watching for this week and if we can find support above the wedge and blue line levels, then I will add again.

This is where the masses run scared to add on a pull back but this is exactly the spot to add once support is held.