AMD pulling back to $19, then up to $28?
Crazy bull run lately since May.
Elliott Wave 1-5, we could be near point 3.
RSI is definitely near overbought.
MACD still very strong for bulls.
ADX is looking like the blue line can go up to 60 before pulling back.
Stochastic RSI also looking like it is near overbought levels.
Just saving my idea so I can review later.
Elliott Wave 1-5, we could be near point 3.
RSI is definitely near overbought.
MACD still very strong for bulls.
ADX is looking like the blue line can go up to 60 before pulling back.
Stochastic RSI also looking like it is near overbought levels.
Just saving my idea so I can review later.
I think there is still room for bulls to continue their run - not sure how much higher is left.
The Blue DMI line is at 42, suggesting there is still room to move upward before a correction occurs.
However, evidence from the RSI at 81 suggests there is an overbought situation at hand, some caution is warranted, as a pullback may be due in the near-term (within 1-2 weeks) - profit taking could be in the 20-25% range suggesting a price retreat to $22.50.
The MACD still suggests no bearish action just yet, as the histogram continues to widen, and the fast/slow continue to diverge. Caution will be warranted when the the two begin to converge.
Stochastic RSI is also looking like it is overbought, but showing no sign of weakening yet.
Lastly, Aroon is still strongly favoring Bulls.
I still haven't bought AMD yet, but will continue to monitor and make a purchase if there is a pullback.