AMD Setup – Bullish Channel with Rocket Targets

Ticker: AMD (Advanced Micro Devices)
Timeframe: 4H
Current Price: $129.40
Outlook: Bullish within ascending channel

🧠 Idea Summary:
AMD is trading within a well-respected ascending channel, and after a brief pullback, price is rebounding off the lower trendline support. With increased volume and momentum indicators turning up, I’m anticipating continuation to the upside — possibly targeting new highs.

📊 Technical Analysis:
🔴 Rising Channel:

The price is respecting both the upper and lower bounds of the ascending channel (highlighted in red).

Each bounce off the lower channel line has led to a strong upward move.

🟡 Support Zones:

$127.65 (9 EMA) and $117.87 (200 SMA) are serving as dynamic supports.

Horizontal support near $170 has also been tested and held.

🟠 Resistance Zones:

First major resistance at $187.75.

Further upside potential if price breaks above this level — targets align with the "rocket" icons within the channel.

📈 Volume Spike:

Strong green candle with high volume could signify institutional buying interest.

📉 Indicators:

Stoch RSI is turning upward from oversold territory.

RSI (14) is rising from 62, suggesting healthy bullish momentum.

🛫 Price Targets:
🎯 First Target: $173

🚀 Target 2: $187.75

🚀🚀 Target 3: $200+ if the channel holds and breakout occurs

🚀🚀🚀 Target 4: $230+ (aggressive bull case, upper channel extension)

⚠️ Risk Management:
A breakdown below the channel (~$127) with volume would invalidate this setup.

Use stop-loss below recent swing low (~$125) to manage risk.

📅 Key Dates:

Watch for potential catalysts in mid-to-late August (earnings, macro events, etc.)

🔔 Conclusion:
AMD is coiling for a potential breakout continuation. The structure is bullish, and the bounce off channel support with volume is a positive sign. A move above $173 could trigger a strong rally toward the $187-$200 range.

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