AMD: Bullish Falling Wedge Pattern with $200 Target
AMD is forming a clear falling wedge pattern, a powerful bullish reversal setup. The stock has been making lower highs and lower lows within converging trendlines, suggesting accumulation and potential breakout. The pattern suggests strong accumulation phase and the breakout could trigger significant upside momentum.
Key Technical Points:
Clear falling wedge formation with converging trendlines Declining volume indicating potential trend exhaustion Entry Point: Current price level Stop Loss: $100 (key support level) Target: $200 (psychological resistance)
Risk/Reward ratio is favorable at 1:4, with $80 potential profit against $20 risk.
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