$AMD TOP 20
Added 2023-04-23 13:13:08 +0000 UTCBehaving very very nice here, pulled back where we wanted it to at the 1.618 Fib and coming down now to the 1.0 Fib level for Wave 4, there have been no surprises or changes to this chart for a number of weeks now and as I've said before, if this can hold at Wave 4, it is in a good position to go higher.
RSI is showing that it is due to continue coming down so $85 is looking possible and the MACD is confirming this downtrend too.
The 50 Day MA is just below the price action right now and I expect the 200 Day MA to start moving up to our Wave 4 spot shortly and may also act as a support line.
So What Now?
We proceed as planned here, if it can hold the Wave 4 spot as shown, I believe it can move up for Wave 5. If it can not hold this level and goes below the blue line or the 200 Day MA in yellow, this is at risk of coming down a lot lower to the bear case and buy zone. Earnings are on the the 2nd of May which is corresponding to my Wave 4 spot.
