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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (92897)	2/13/2000 10:04:00 PM
From: Richard Wang	Read Replies (3) \| Respond to of 1574342

ted, Re: AMD has a three year cup and handle going on...the top of the cup would be $48.50. Would that not require several weeks of consolidation at that level before moving up? AMD has completed two symmetrical patterns. The first one I have discussed previously here, which encompasses the chart last year, going from around 30 a bit over a year ago to late last year when it went back to around 30. We are now completing the second symmetrical pattern, which is the same as the three year cup and handle you have described. This one started about 3 years ago around the mid 40's and now we are about to complete the pattern. There were considerable back and filling in that area of low 40's to high 30's, so we may see some congestion in that around 40-45 range. One consideration is that the congestion band is 3 years old, so the effect on the chart in the immediate future may hopefully not be that demanding. The AMD chart looks very bullish right now, so it may well go through this congestion zone without undue delay. Also, AMD chart may have entered a step ladder pattern, one of the most bullish patterns. The next step up could well take us to low 50's. Richard