Buying AMD around the $25.50 area.
I believe AMD will need to correct back down to the 300 day moving average. I am seeing over sold conditions on the weekly and the daily. But we need to cool off in this falling wedge pattern back down to my buying zone of $25.50. This happens to match up with the 300 day EMA as well.
The last correction hit the 400 day moving average before moving upwards but we will need to see if the 400 day moving average is the buying area or the 300 day sometime in the next 35-70 days.
Right now I would be surprised to move up in this pattern as we could stay in over sold conditions for a while with the monthly trying to cool off.
If you have any questions about my analysis please follow me @Keifer_Coggin at Twitter.
The last correction hit the 400 day moving average before moving upwards but we will need to see if the 400 day moving average is the buying area or the 300 day sometime in the next 35-70 days.
Right now I would be surprised to move up in this pattern as we could stay in over sold conditions for a while with the monthly trying to cool off.
If you have any questions about my analysis please follow me @Keifer_Coggin at Twitter.
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