AMD Analysis: Shorting to $100 as Cup & Handle Pattern Forms
Hello Traders,
I'm sharing a weekly chart analysis for AMD, where I’ve identified a Cup & Handle pattern. The current price is $148, and it's retesting the broken red trend line.
I suggest considering a short position targeting $100. I've also included a back test for the two previous patterns, which support the validity of the middle red trend line.
It's important to note that if AMD reaches the $100 level, the Cup & Handle pattern above the blue trend line will become valid, potentially targeting even lower levels around $55, or possibly further down.
Additionally, pay attention to the downtrend progression channel in cyan. The current price of $148 is positioned around the resistance of this channel's middle line.
If these scenarios play out, a harmonic pattern may also form, which I will define at a later stage.
Stay cautious and manage your risk!
I'm sharing a weekly chart analysis for AMD, where I’ve identified a Cup & Handle pattern. The current price is $148, and it's retesting the broken red trend line.
I suggest considering a short position targeting $100. I've also included a back test for the two previous patterns, which support the validity of the middle red trend line.
It's important to note that if AMD reaches the $100 level, the Cup & Handle pattern above the blue trend line will become valid, potentially targeting even lower levels around $55, or possibly further down.
Additionally, pay attention to the downtrend progression channel in cyan. The current price of $148 is positioned around the resistance of this channel's middle line.
If these scenarios play out, a harmonic pattern may also form, which I will define at a later stage.
Stay cautious and manage your risk!
İşlem kapandı: hedefe ulaştı
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.