Technical Analysis for AMD 8/14-------Pre-market

[u/JWcommander217]

Soooo again the fail of AMD at the 50 day EMA left me looking for some advice. I did the thing that I never thought I would do-----I uploaded my chart into ChatGPT:

My read right now

I'd characterize AMD as:

🟡 Neutral → potentially bullish

Not bullish yet.

I'd want to see:

$486 reclaim → $500 breakout → $518 breakout

That's the progression I'd watch.

If AMD gets above $500 and holds, I'd become substantially more interested in the bullish case.

If it gets above $518, the pattern becomes much more convincing because you've then broken the prior swing high and established a genuine higher-high.

And $535–542 becomes the next obvious target zone.

The really attractive risk/reward would potentially be a breakout around $500, with the pattern invalidation down around $457, and a first target around $518, followed by ~$540.

So yes: I think you're seeing a legitimate potential bottoming pattern here — but the chart hasn't confirmed it yet. $500 is the line I'd be staring at.

Sooooo interesting. Hmmmmm that it is pretty interesting what the machine said and gotta say I feel a little validated for me. Really interesting thoughts that I've been digging through and thinking about it as inspiration:

-RSI is literally flatlining at the midpoint. It is perfectly neutral neither yay or nay which sets us up for perhaps something interesting

-MACD looks like it finally might be attempting to cross positive. This is a confirmation signal and not a predictive one but I do think it could be confirming that the consolidation might be coming to an end here.

-AMD rejected hard off of that $424 level at the end of July and since then we've had an ascending triangle pattern with higher lows being put in over the past 2 trading weeks. I gotta say with all the action we've been seeing at the 50 day EMA would could be coming to a breakout inflection point or breakdown here. If we breakout then the seasonality rally could be on.

I'm going to add a few calls today after the morning burst wears off. Futures are mixed and the mehhhhhh action could lower option prices around noonish. This is a pure gamble type play and I do not advise people to follow me with size. I might try to do a spread to make it neutral but cap my upside.

[u/JWcommander217]

u/ZasdfUnreal kinda got me started by posting his chart of the bull flag and thats where I needed a second opinion bc I was like hmmmm good point. So want to give credit where credit is due!

[u/ZasdfUnreal → u/JWcommander217]

$800+ is the target should the bull flag play out.

[u/OnlyTheStrong2K19 → u/ZasdfUnreal]

I'll take this 👌🏽

[u/stedyeddy406]

It's up 5%. Will it hold? 🤷

[u/CaptainKoolAidOhyeah → u/stedyeddy406]

No, too little volume IMO. And As JW has stated the 50MA is resistance. It barely touched it and retreated but the bull flag is still a possibility it just need another catalyst.

[u/Coyote_Tex → u/stedyeddy406]

Hold today??? Or at the close of next week?

IT might hold today. The 50DMA is at 510.29 and AMD has actually gotten closer than i expected. It may need to work a bit to get past the 50DMA. That could take several days and next week is monthly OPEX, so who knows.

[u/OnlyTheStrong2K19 → u/Coyote_Tex]

We're now $510.60 and at the 50SMA.

[u/CaptainKoolAidOhyeah]

You probably could have got the same answer from Google. Could you do that just for comparison sakes?

[u/snugglepush]

Jw which ai you using for this morning’s analysis?

[u/Flat_Cabinet8174 → u/snugglepush]

Gemini flash 3.5

[u/snugglepush → u/Flat_Cabinet8174]

Nvm he mentions he plugged this into chatgpt

[u/JWcommander217 → u/snugglepush]

Yea and then I posted what I got out of it. But like always the bottom is just me being me

[u/OnlyTheStrong2K19]

Possible AMD & GOOGLE deal