AMD – Advanced Micro Devices, Inc

Updated June 6, 2019

Daily chart: The current move higher forces me to adopt the Bullish alternative as laid out in May: Primary IV did finish late-2018 and primary-V is now underway, morphing into an ending diagonal (typical for 5th waves). This would explain the overlapping nature of the recent price advance since that low. Diagonals are hard to trade and forecast, but ultimately it should ideally target the 176.4-200% Fib-extension at ~$34-$37. A move back above $30 will confirm this possibility. 70% odds. Continued below

Price is now in either major-5 of Primary V or only in wave-iii of -5 of -V. Regardless I expect to $36.89 to be reached, possible as high as $46ish in the case of the latter option. The weekly and daily charts look long and strong and both foretell to expect higher prices, even with some pullbacks along the way.