Price Action Analysis of AMD (1hr)
AMD has provided us with amazing trading opportunities over the past several days. Largely in part due to it's breakout to ATH and surpassing $100 for the first time.
This has been quite a large breakout, giving us a nice and tight bullish channel on the lower timeframes. Of course, this rally has to come to an end at some point to form a larger bull channel. Yet, based off this chart analysis, I do believe that AMD may make another leg upward tomorrow.
This is only valid if it holds the channel line. It could just as easily break the trend and begin it's descent.
AMD has given us flags that begin forming near the end of the day and continue forming in the post/premarket. Each time they move to higher highs the next day. We'll see if AMD can continue this trend for at least one more day.
This has been quite a large breakout, giving us a nice and tight bullish channel on the lower timeframes. Of course, this rally has to come to an end at some point to form a larger bull channel. Yet, based off this chart analysis, I do believe that AMD may make another leg upward tomorrow.
This is only valid if it holds the channel line. It could just as easily break the trend and begin it's descent.
AMD has given us flags that begin forming near the end of the day and continue forming in the post/premarket. Each time they move to higher highs the next day. We'll see if AMD can continue this trend for at least one more day.
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Pattern never triggered and broke to the downside instead.