AMD: Is it a good time to buy?
Hello my friends! Let’s how AMD is doing today!
First, in the 1h chart, it is in a bull trend again, as we have higher highs/lows. The first pivot point triggered was at $ 109.77, and we have a second one that has yet to be triggered at $ 111.70. We are above the 21 ema again, and everything looks bullish from here.
Let’s look for more clues in the daily chart:
Yes, AMD just did a pullback to the area between the 38.2 and 50% Fibonacci’s Retracements and it is reacting nicely. I would prefer to see it at the 21 ema, and there’s still a good chance that we’ll see this happening. If we drop below the 38.2% retracement level again, I see a sideways correction on AMD, something like AAPL is doing.
A sideways correction is the healthiest movement on AMD, in my view, but if it triggers the pivot point in the 1h chart again, and if it keeps above the 21 ema, probably we’ll see a retest of the ATH, and then we’ll see how to proceed.
During the pullback seen in past few days, we see that the volume is decreasing, indicating that this is just a healthy pullback, not necessarily a sell-off. That’s one of the reasons why I don’t see AMD reversing the trend in any level. In the worst-case scenario, I see an annoying congestion. In the perfect world, we would retest the 61.8% retracement, but I’m not counting on that. Personally, I would only buy it if we get closer to the 21 ema.
AMD is a great stock, but I see better opportunities around. Maybe if I had a portfolio of 50 stocks, I would buy AMD right now, but that’s not the case.
If you liked this analysis, remember to follow me to keep in touch with my daily studies.
Have a good weekend.
First, in the 1h chart, it is in a bull trend again, as we have higher highs/lows. The first pivot point triggered was at $ 109.77, and we have a second one that has yet to be triggered at $ 111.70. We are above the 21 ema again, and everything looks bullish from here.
Let’s look for more clues in the daily chart:
Yes, AMD just did a pullback to the area between the 38.2 and 50% Fibonacci’s Retracements and it is reacting nicely. I would prefer to see it at the 21 ema, and there’s still a good chance that we’ll see this happening. If we drop below the 38.2% retracement level again, I see a sideways correction on AMD, something like AAPL is doing.
A sideways correction is the healthiest movement on AMD, in my view, but if it triggers the pivot point in the 1h chart again, and if it keeps above the 21 ema, probably we’ll see a retest of the ATH, and then we’ll see how to proceed.
During the pullback seen in past few days, we see that the volume is decreasing, indicating that this is just a healthy pullback, not necessarily a sell-off. That’s one of the reasons why I don’t see AMD reversing the trend in any level. In the worst-case scenario, I see an annoying congestion. In the perfect world, we would retest the 61.8% retracement, but I’m not counting on that. Personally, I would only buy it if we get closer to the 21 ema.
AMD is a great stock, but I see better opportunities around. Maybe if I had a portfolio of 50 stocks, I would buy AMD right now, but that’s not the case.
If you liked this analysis, remember to follow me to keep in touch with my daily studies.
Have a good weekend.
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