AMD: Final shot to rise in this Channel. $290 if successful.

19 nov

Advanced Micro Devices are bearish on the 1D timeframe (RSI = 38.717, MACD = -4.560, ADX = 33.691) but just under neutrality on the 1W technical outlook (RSI = 43.494, MACD = -3.840, ADX = 18.724). This indicates that this is the final support long term to reverse the medium term bearish sentiment and this is quite evident on this chart where the price is at the bottom of the 2 year Channel Up.

Roughly every November inside this Channel (2022, 2023 and 2024), it is on a corrective wave (or has been the month before), so the symmetric structure on this pattern is very strong. Another reason to see a massive bullish wave next. The previous two peaked approximately 160 days after that low, completing a +141.24% rally from the HL. Consequently, we are aiming for a similar rally (TP = 290.00) by late April 2025.


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