The Long Investor

$AMD TOP 20

Added 2023-09-24 18:50:45 +0000 UTC

Another stock that this is firmly on our sights to buy too and this is at its 200 Day MA, I have seen a lot of members eager to buy this week but like I always say, be greedy for confirmation, so waiting for the 200 Day MA to show a sustainable support and a retest would be ideal here, as the market is so weak.

The 200 Day MA is also quite high here as it is just above the 0.5 Fib, and we know that the 0.618 Fib is the normal support level for Wave 2....so if the price does not hold the 200 Day MA, then the next potential support line is on the 0.618 Fib at $84.

This has moved all the way down from $132 and we are currently at $96, that is a 40% gain already by not buying when many thought this was turning bullish.

So I believe some people are upset that it keeps moving down which is bizarre, we want to buy stocks we want at the lowest possible price, so coming down lower and not holding the projected levels is a great thing.

But I understand that people are not fully aware of how Fib levels work and that is why I have said I will address this with lessons on EW Theory, starting this week.

I will also alert when I buy $AMD.

MACD is also showing that support has not been found yet and the trend is red.