CPI came in as expected, so many investors may be looking at beaten down stocks over the last few months to take advantage of the market taking some risk off with CPI not coming in Hot.
$AMD may be a stock that will benefit from this hunt for value.
$TSM has also run very strong lately too and both of these stocks are strongly correlated.
Price also continues to hold above the 0.618 Fib and 200 Day MA quite comfortably.
A flip of the blue line at $164, which will also be the 50 Day MA, will confirm this is in Wave 5
I continue to hold my position and will consider adding.
Gareth Neary
2024-05-16 17:02:14 +0000 UTCSonal
2024-05-16 16:57:21 +0000 UTC