The hourly chart for AMD has formed a falling wedge. There is stochastic divergence that is signaling a change in momentum and a breakout.
The price made a lower low, and the third low is lower than the first. Combined with a stochastic (9,3) that is coiling and making 3 consecutive higher lows, we have a strong divergence signal on the hourly time frame.
We still need the stochastic to curl up, so be patient and get in on the way up.
Buy: 11.24
Target: 11.60 - 12.18
jbzstocks.com
@jbzstocks
The price made a lower low, and the third low is lower than the first. Combined with a stochastic (9,3) that is coiling and making 3 consecutive higher lows, we have a strong divergence signal on the hourly time frame.
We still need the stochastic to curl up, so be patient and get in on the way up.
Buy: 11.24
Target: 11.60 - 12.18
jbzstocks.com
@jbzstocks
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