AMD could see a 25% move in the coming month
AMD has been on a hot streak recently, rallying close to 80% from below 10 to close to 17. However the streak is about to end, as we see a break down below the trend line, as well as 9 dma. I see at least a drop towards the redline, which is the 50 dma, representing a 25% drop.
Yorum:
Doji star forming on the daily chart. Could signal an inverse and retake of the trend line if Monday is a big up day & retakes the trendline. However the fact that hourly RSI hits oversold level and we did not get a quality bounce could signal the forming of a bear flag that is more likely to play out given the weakness of semiconductor sector and Nasdaq.
Yorum:
50/50 chance here. Monday's movement is the key.