Strong bullish momentum for
AMD
Currently, the price is sitting on previous support with the Fibonacci Retracement of 50%.
Prices also seem to be bouncing off the 100EMA.
If prices doesn't break below the 3 critical area mentioned, most likely prices will regain momentum and go for the upside.
- Stochastic is undersold
- Strong bullish Relative Strength
"Technology" sector & "Semiconductor" industry has been very bullish.
Though it passes all of my checkboxes, I will still be cautious due to the presidential election. Unexpected news will definitely hurt the technical analysis.
Moreover, I will wait for a confirmation candle, or for the price to take out the majority of stoplosses before a safer entry
AMD
Currently, the price is sitting on previous support with the Fibonacci Retracement of 50%.
Prices also seem to be bouncing off the 100EMA.
If prices doesn't break below the 3 critical area mentioned, most likely prices will regain momentum and go for the upside.
- Stochastic is undersold
- Strong bullish Relative Strength
"Technology" sector & "Semiconductor" industry has been very bullish.
Though it passes all of my checkboxes, I will still be cautious due to the presidential election. Unexpected news will definitely hurt the technical analysis.
Moreover, I will wait for a confirmation candle, or for the price to take out the majority of stoplosses before a safer entry
Trade closed: target reached