AMD Weekly Update

Overview: let's review the key expectations on the previous update:

• My outlook on AMD is based on the very same facts that I wrote on my update of NVDA.
  
• Since Oct. 23rd, I had the idea that the bottom is in for wave (4), which is still possible, but not my preferred scenario at the moment.
  
• What follows at this point is a pullback to the upside, as wave b of Z of (4) and then we see wave c of Z to new lows .
  
• For now, the likely scenario in my opinion is that we go to new lows on AMD and I have 45.72 as the potential bottom.
  
• On the hourly chart, we have wave b developing as a zigzag .
  

Update: not much to update, I think wave b of Z of (4) is developing as an expanded flat and we are inside wave (c) of b. I have 70.60 as my target for wave b peak.