Showing posts with the label AMD

AMD Stock: Continued Downtrend Expected After Short-Term Rebound

The AMD weekly trend has been in a Bearish zone for the past 13 weeks. Although there was a recent uptrend over the last 3 weeks, this week marks a point where the buying momentum from the uptrend is gradually weakening, and selling pressure is strengthening, indicating a re-entry into a downtrend. It is anticipated that a similar pattern will continue into the next week, with a potentially larger downward movement. Following this trend, it is expected that a downtrend will persist over the next 3 to 4 weeks. A reversal into an uptrend is projected around mid-November. It is worth noting that this prediction is subject to change based on the direction of the US stock market, given the 74% similarity between AMD's trends and the broader US market. Even if a reversal to an uptrend occurs in November, the overall trend is likely to remain within the Bearish zone, limiting potential profits. Any strong upward movement indicating a significant uptrend may require a considerable waiting