AMD, BIDU updates 09/13

AMD: Nice reversal today after triple negative divergence on the daily RSI5. On the daily chart I can count Primary-III as complete, but on the weekly chart it counts best as having completed only major-3 of Primary-III. Since longer time-frame charts count always cleaner (less guessing due to daily scribbles, and hence why I often show monthly charts) I prefer the EWT-count shown on the weekly. Matches nicely with the Fib-extensions and a MAX RSI5 reading, which is often the 3rd of a 3rd wave indication.

amd daily

I now expect major-4 to decline to around $29-27 and ideally around $28, before major-5 completes primary-III at around $37.



BIDU: Has two options longer term. Either it will complete an impulse up shown in the first monthly chart or it will fall back to $100 level and possible much lower as shown in the 2nd monthly chart. IF price drops below $198 without making a new high first, the 2nd option will become preferred. Given price is on the daily chart below the 200d SMA and the 20, 50 and 200 day SMAs are bearishly stacked indicating BIDU is in a bear market I honestly therefore don’t give this stock much hope for new highs (see daily chart). But, nobody should be long this stock anyway due to price being below its 200d SMA as I prefer to NOT long anything that’s below its 200d SMA. If correct than BIDU is in an irregular flat Cycle-2 wave, with the B-wave just completed.

BIDU monthlyBIDU Monthly2

BIDU daily