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Tech

Advanced Micro Devices ($AMD) : Consolidation with a doji

 

This is a follow up to my previous AMD post .

AMD continues to show consolidation at current price range.

In fact, after my June 24 post, a doji is sighted on AMD’s chart.

With the price consolidation, we can also see that AMD price level is now just next to the Tenkan sen.

Support is around 6.88 with resistance at 7.22.

Resistance is strong with the thick leading kumo from 7.44 to 8.00 range.

Short term catalyst includes possible announcement of a new CEO.

Categories
Tech

Advanced Micro Devices ($AMD) : Possible consolidation range

 

AMD has fell from $8.40 to $6.90 within one short month.

From the Ichimoku chart, there is a possibility that it may consolidate between $6.90 and $7.20

Rumours includes new CEO (from IBM).

Note:

At this moment, there is no confirmation that the consolidation range will hold. Neither are there confirmation of a bullish signal. I am vested and is making a bet that there may be some positive catalyst in the tunnel.