$AMD TOP 20
Added 2024-04-14 18:19:38 +0000 UTCIt is worth showing the larger picture here for $AMD and show where this structure began at the end of 2021.
We can clearly see the Cup and Handle formation and our Wave 4 level now is testing the breakout level again at $160.
So holding above this level is important and the price finished the week at $163.
Once this level is held, the price can still continue higher to our Wave 5 level.
The elephant in the room is how the middle eastern conflict is going to affect the market tomorrow.
$AMD is still significantly above its invalid level at $133, so there is still room to ride this storm.
But I am watching this closely and will not rule out adding if I see support confirmed.
Comments
There was a bounce for Wave B but it was short for sure, however it is still valid, we will watch to see how this develops but it is showing some weakness now
Gareth Neary
2024-04-17 17:09:31 +0000 UTCI'm new to EW. The earlier AMD post had said a Wave B bounce to 210 is probable. But how did we go from a 210 projection possibility to a drop like this without anything close to a bounce to 210? There was no remark on what level would invalidate 210 target area.
Jong
2024-04-17 16:55:37 +0000 UTC
