AMD Analysis: Shorting to $100 as Cup & Handle Pattern Forms
Hello Traders,
I'm sharing a weekly chart analysis for AMD, where I’ve identified a Cup & Handle pattern. The current price is $148, and it's retesting the broken red trend line.
I suggest considering a short position targeting $100. I've also included a back test for the two previous patterns, which support the validity of the middle red trend line.
It's important to note that if AMD reaches the $100 level, the Cup & Handle pattern above the blue trend line will become valid, potentially targeting even lower levels around $55, or possibly further down.
Additionally, pay attention to the downtrend progression channel in cyan. The current price of $148 is positioned around the resistance of this channel's middle line.
If these scenarios play out, a harmonic pattern may also form, which I will define at a later stage.
Stay cautious and manage your risk!
I'm sharing a weekly chart analysis for AMD, where I’ve identified a Cup & Handle pattern. The current price is $148, and it's retesting the broken red trend line.
I suggest considering a short position targeting $100. I've also included a back test for the two previous patterns, which support the validity of the middle red trend line.
It's important to note that if AMD reaches the $100 level, the Cup & Handle pattern above the blue trend line will become valid, potentially targeting even lower levels around $55, or possibly further down.
Additionally, pay attention to the downtrend progression channel in cyan. The current price of $148 is positioned around the resistance of this channel's middle line.
If these scenarios play out, a harmonic pattern may also form, which I will define at a later stage.
Stay cautious and manage your risk!
Trade fermée: cible de profit atteinte
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.