AMD reviewHey guys, this is PunnyTrader
I’m using a technical analysis and Elliott waves theory to trade.
Since this terrible war, American market has been blocked for Russians, interest has been decreased.
I’m one of a few who has an access.
Therefore I decided to create my second Youtube english speaking channel to share my knowledge and experience about stock market and trading.
Today, I’m gonna show you AMD , (ADVANCED MICRO DEVICES), NASDAQ blue chip.
Here we could see a global bullish outlook.
I suppose wave number one ended at 48.50$.
Wave two at - 1.61$
Wave three finished at the historical maximum.
It has 5 sub-waves, and price rate is too far from its limit.
So, downtrend from 164.46$ is wave number 4.
Minimum 54.57$ may be the end for the whole wave 4 or just for the wave 4-A.
What could be interesting in that case?
As we know, wave 4 does not overlap with the price territory of wave 1.
But there is a close approach to wave number one maximum.
From here, someone could have an idea to buy AMD.
Yeah, it is possible. Price now is much better than a year ago.
But I’m not gonna do this by myself and I can’t recommend it to all.
So first, sometimes rules are broken.
That is why, here is only one really important support level. It’s 1.61$
Of course, the chip has fallen down more than 3 times.
But the possibility of the AMD collapsing still remains.
And second, there are no signs of reversal indicators at the long time frames.
RSI and MACD are neutral at months and at weeks.
According to my trading system, that is one of the reasons to buy any stock.
And what do AMD owners need to do?
Many of them are in losses.
A lot depends on your current stock portfolio.
If you have a large position in AMD and little free cash, your option – nothing to do.
Traders who have enough free cash and small position in AMD – they could buy and decrease average price.
But that’s very individual.
So, the main conclusion: to purchase AMD now is too early
For holders two options: buy or just hold.
Thank you for watching this video, like it.
Subscribe to my channel. Profit to everybody!
