AMD Short set-up through *7/21/17 earnings report
AMD is in the midst of a primary corrective wave. the a - wave concluded at $9.85 and the b - wave -- propelled on news of that AMDS's graphics chips would be included in Apple's new generation of Macs -- is tentatively labeled at $13.40 which coincides with the unfolding NAZ correction. Primary 2 price target is $7.70 which I expect to be reached on, or just before, the est. earning date of 7/21/17 if it follows the time-signature of the proceeding a - wave.
The price target of $7.70 represents a 50% correction, and projects support in a common reversal area of wave 4 in the preceding primary wave 1. A minimum price target of $22 should be reached into spring-2018.
Short-term trend: bearish
Medium-term trend: bearish, positioning for long-term set-up to minimum price target of $22.
Long-term trend: bullish
The price target of $7.70 represents a 50% correction, and projects support in a common reversal area of wave 4 in the preceding primary wave 1. A minimum price target of $22 should be reached into spring-2018.
Short-term trend: bearish
Medium-term trend: bearish, positioning for long-term set-up to minimum price target of $22.
Long-term trend: bullish