$AMD TOP 20
Added 2023-11-05 21:05:04 +0000 UTCVery good start to the month for $AMD, earnings announced on the 31st of October and it was a positive beat but a Q4 range guidance which the market initially took as a negative, until CEO Lisa spoke on their earnings call and explained how profitable they believe $AMD will be in 2024, the AH decline recovered and on the 1st of November, $AMD finished the day up 9%.
We know that this was a bounce on the 0.5 Fib and found further strength when it broke above the 200 Day MA and then used this as support to climb to $113.
Again we can only see one clear wave here now so this is likely still subwave 1, it may go higher tomorrow but we will be watching closely for the pull back, so I have only added in the small white Fib levels now incase there is a pull back tomorrow, we can also see that the 50 Day MA is also at the 0.5 Fib at $103, so this area has my attention.
I would like to see $AMD stay above the bull flag at $105, it may lose it at some stage but I would like to see this level recaptured to confirm the reversal.
But I like how this has recovered and the bulls look in control here.
I may consider adding to my position, at the end of Subwave 2 when it comes in but I will update this chart when we start getting a pull back.
