AMD -> New Major Bullish Cycle

١٣ يوليو ٢٠٢٣

Hello Traders and Investors,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of AMD💪

As you can see on the monthly timeframe AMD stock perfectly retested the 0.618 fibonacci retracement level of the previous bullish cycle and already started a quite nice rejection.

On the weekly timeframe you can see that AMD retested the 50% fibonacci level and also filled the gap which was created a couple of weeks ago so everything is pointing towards more bullish growth.

Finally I am waiting for an entry signal on the daily timeframe - specifically AMD breaking above the current resistance at the $115 area and then I also do expect another daily push higher.

Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈

Thank you for watching and I will see you tomorrow!

My previous analysis of this asset: