AMD 4/8/2022
Aggiornato
AMD
Had a great run so far. Made a lot of fanboys.
Daily chart analysis.
AMD has been in an uptrend since 2016 respecting the 200ema
The trend started to see some weakness March – April 2021 when price started to close below 200
Price continued its move up but in sharp almost parabolic move with longer consolidation periods.
Price has now found support at 100 where it has been ranging since August 2021
Since topping out at 164, price continued to make lower highs into support area at 100
Price has also attempted to make higher highs and has failed.
There is currently what looks to be a Head and Shoulder Pattern.
entire right shoulder and current price’s The MACD signal is currently I bearish territory.
The only thing we need is break of the neckline support to confirm Head and shoulders pattern.
Lots of weakness in trend already flashed: broken 200ema trend, lower highs, failure to make higher highs, and MACD in bearish territory
With these weaknesses in trend, Im expecting neckline to be broken confirming Head and shoulder pattern and ending the uptrend.
We can first expect a pullback to 200ema and then move to break neckline OR we’ll see neckline broken and then a pullback to it turning support into resistance before making its next move downward and breaking the trend.
Once neckline is broken, will be entering trade short.
Had a great run so far. Made a lot of fanboys.
Daily chart analysis.
AMD has been in an uptrend since 2016 respecting the 200ema
The trend started to see some weakness March – April 2021 when price started to close below 200
Price continued its move up but in sharp almost parabolic move with longer consolidation periods.
Price has now found support at 100 where it has been ranging since August 2021
Since topping out at 164, price continued to make lower highs into support area at 100
Price has also attempted to make higher highs and has failed.
There is currently what looks to be a Head and Shoulder Pattern.
entire right shoulder and current price’s The MACD signal is currently I bearish territory.
The only thing we need is break of the neckline support to confirm Head and shoulders pattern.
Lots of weakness in trend already flashed: broken 200ema trend, lower highs, failure to make higher highs, and MACD in bearish territory
With these weaknesses in trend, Im expecting neckline to be broken confirming Head and shoulder pattern and ending the uptrend.
We can first expect a pullback to 200ema and then move to break neckline OR we’ll see neckline broken and then a pullback to it turning support into resistance before making its next move downward and breaking the trend.
Once neckline is broken, will be entering trade short.
Nota
neckline broken, Head and Shoulders pattern confirmed.Nota
Will not look for candlestick entry pattern Neckline. Looking for Price to reject neckline support and turn it into resistance.Nota
*will now look for candlestick entry patternTrade attivo
Entry: 97.37Stop loss: 112.15
Target: 73.90
Trade chiuso: obiettivo raggiunto
Target: 73.90, +24.10%, 1.59 RR ratio
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