AMD- Buying on corrective distributive ST
AMD had a buying climax on 8 Mar and followed by a corrective downside for the next 2 months. The decline is rather corrective and as such, we are taking a bet that there will be an upside for now to form a potential distributive Spring Test. Especially it had since broken out of the falling wedge. To add, the confirmation of the smaller diamond bottom adds on to the bullish reversal.
On the indicator front, My Midterm (53,10,10) Stochastic saw an oversold crossover and 23-period ROC has return back to the upside.
Buy at spot with a TP of 207 and could wait and see at support of 145.06.
On the indicator front, My Midterm (53,10,10) Stochastic saw an oversold crossover and 23-period ROC has return back to the upside.
Buy at spot with a TP of 207 and could wait and see at support of 145.06.
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