Here we see AMD playing its mathematical levels perfectly. After breaking its last high of $163 price rose exactly to the 1.618 ($226). We saw supply dump at this price giving us a clear sign of what's next. Here are the 3 Scenario's on the weeklytime frame of what will happen next.
1. The momentum will pick back up ( as shown with the RSI bouncing off the 70). This could send price back up to $226, and a break of that level would send AMD to around $253.
2. We continue to fall to retest our first key level. This level is represented by the $163 level. This would be a perfect retest of old resistance being tested as new support.
3. We get a full retracement. In this case AMD will fall somewhere between $120-125. This is the 0.618 of our micro move and macro move. Amazing how they both align with one another. This has also been established as a key level with confluence before the breakout.
1. The momentum will pick back up ( as shown with the RSI bouncing off the 70). This could send price back up to $226, and a break of that level would send AMD to around $253.
2. We continue to fall to retest our first key level. This level is represented by the $163 level. This would be a perfect retest of old resistance being tested as new support.
3. We get a full retracement. In this case AMD will fall somewhere between $120-125. This is the 0.618 of our micro move and macro move. Amazing how they both align with one another. This has also been established as a key level with confluence before the breakout.
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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.