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Politics : Formerly About Advanced Micro Devices
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To: Yougang Xiao who wrote (80961)11/24/1999 1:09:00 PM
From: Richard Wang  Read Replies (3) of 1573954
 
Yougang,
We are close to an AMD breakout on the upside.

1. The short term chart keeps looking bullish. On recent days there has been an upward bias which should keep going up.

2. Except for the brief peak a couple of Fridays ago, AMD is now at the highest level since early January. I think we can safely say we are already in an intermediate uptrend and should continue to point up.

3. The uptrend should take us to the next resistance level of around 33.

4. AMD has been forming a symmetrical pattern during the past 12 months, with the small peak in May as the middle point. Completion of this pattern should bring us to the earlier peak of around 33.

5. The current uptrend and the chart before it mimic the events during middle to late of last year. Continuation of this trend should get us over 33 for the all-time high of 48.

6. AMD held up well yesterday when high techs were getting slaughtered, a bullish indication.

7. Stocks generally go up after Thanksgiving and during December, except those with year-end selling. This year YES should not affect AMD, so the bias should follow the general up market.

We should get a fair amount of resistance on the way to 33, but our journey there should start soon after Thanksgiving.

Have a very nice Thanksgiving.

Regards,
Richard
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