ADVANCED MICRO DEVICES - Ready for a reversal?

12 Agu 2024

AMD is retesting a significant horizontal structure and we might see a bullish reversal soon, considering that AMD already created a correction of -45% over the past couple of months.



Click chart above to see detailed analysis

AMD is clearly one of these "AI" hype stocks which is now coming back to normal levels after also NVIDIA and other tech stocks are correcting a bit. AMD has been trading in a rising channel formation since the "Covid" crash back in 2020. With the recent break and retest, we could definitely see a bullish reversal soon.

Levels to watch: $120

Keep your long term vision,
Philip - BasicTrading