$AMD(AMD.US)
AMD has completed what seems to be a five wave pattern off the bottom of its fourth wave. The fourth wave of the five wave impulse is shallow but fits the pattern on the rule of alternation and the subsequent ending diagonal fifth wave.
As such, in line with general markets and other charts, I believe AMD is in its second wave now of a big fifth wave up.
Price has touched 38.2 but I am expecting a C wave of the 2 down to at least the 38.2 again or the 50 retrace at 209 and 61.8 at 206. If price retreats further to 202, that will be a good buy the dip level and better risk rewards.
Below 196 invalidates this pattern and favours another count.
Disclaimer: NOT financial advise. Kindly do your own due diligence!
@Longbridge Singapore @Bridge Buzz SG
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