$AMD(AMD.US)

I thought it is apt that I share this opinion before market open with AMD selling down premarket after earnings.

I was hoping for a third wave breakout with a sweet 12 12 into earnings. But judging from premarket, looks like the pattern in play seems more likely a leading diagonal instead.

I am seeing this selldown as a C wave of the fourth. Prior ATH should hold as support. Note the blue lines converging just beneath it which I am expecting the institutions to defend. Once weak hands are shaken out, the fifth wave rally should take AMD’s price to the 290-300 levels. Fifth waves are unpredictable though. Sometimes they truncate so be careful!

Disclaimer: Not financial advice. Kindly do own due diligence.

@Longbridge Singapore @Bridge Buzz SG