AMD, TDOC updates 08/29

AMD: Is the classic example of “divergence is only divergence until it isn’t“. See the red dotted arrows all foretelling a possible decline was going to happen. Well, it lasted for two+ days for a minor-ii wave, and after that it was blast off. What a rocket launch. Price is now most likely in minor-v of intermediate-v of major-3. Cont’d below.

amd daily

The monthly chart shows how the black major-wave-degree Fib extensions line up nicely with the blue Primary-wave-degree Fib extensions: 1.618x 1, at 1.382x I, then major-4 down the 100% for both degrees, and then ideally major-5 of Primary-III to the 200% and 161.80% extension for all of III, which can of course also be a C-wave. That will bring us to $31-$32. Thus, waiting for AMD to drop to $23-22 -if not long yet- is the prudent thing to do, as right now, we should only see a minor-v to about $28 before a 21% haircut takes place for major-4.

amd monthly

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TDOC: Has most likely topped for major-3 (in chart shown in yellow) of Primary-III, with a small shot at marginally higher prices first, before major-4 takes price down to $66-$58, with a preference for the lower end of the target zone as that’s more within the clearly strong support zone carved out by minute-iv and intermediate-iv. Hence, currently the risk is to the downside, as upside appears limited. After that correction, major-5 should bring price back up to $85-$90 for all of Primary-III, which can of course be a C-wave high, but IMHO that’s less likely. Primary-IV will then reduce price A LOT. Can’t see by how much yet, but 50% is not impossible. Hence, like all the big boys do: please scale out once wave 3/III tops. No need to sit through large draw downs with a possibility of wave-V falling short of its target.

TDOC monthly