Current Sentiment: Bullish
Support 1: 24.57 Resistance 1: 30.00
Support 2: 21.08 Resistance 2: 34.07
AMD has recovered from the bottom since breaking off the high of 23.82 and since then, the market has been moving up in a steady double 3 waves movement in the channel. Base on the technical factors presented, the market has another potential to move further upside.
*Price may fall and break the uptrend channel support and should it break, the last line of defense will be the support level 1 at 24.57. Failure to close above the support 1 will result in the uptrend being broken and market might fall into a range market.
Red line = 200 period moving average
Blue line = 50 period moving average
Green line = 22 period moving average
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