Howdy Traders!
This is just another super-short chart reading. In this case,
AMD
is creating a parallel channel (blue one) within a larger parallel channel (the green one). The green channel has been valid since last year since it's really long term, and the price respects it. If
AMD
breaks out of the blue channel upwards, then it will be tested by the green channel before continuing on higher. If
AMD
breaks downwards, then it will most likely continue to drop.
This chart pattern has a value of $8.63 (about a 7.3% move). This means that if it breaks upwards, you add $8.63 to the price of where it broke-out to create the price target, and vice versa.
Bona Fortuna!
This is just another super-short chart reading. In this case,
AMD
is creating a parallel channel (blue one) within a larger parallel channel (the green one). The green channel has been valid since last year since it's really long term, and the price respects it. If
AMD
breaks out of the blue channel upwards, then it will be tested by the green channel before continuing on higher. If
AMD
breaks downwards, then it will most likely continue to drop. This chart pattern has a value of $8.63 (about a 7.3% move). This means that if it breaks upwards, you add $8.63 to the price of where it broke-out to create the price target, and vice versa.
Bona Fortuna!