*$AMD
Today's rebound is good, but it needs to break above the SAR to confirm a reversal.
- Price: *547.98$ +4.47%*
- 24h high: *553.88$* / 24h low: *515.89$*
- Volume: 112,831 AMD / 60.94M$
- SAR: *590.25*
- MACD: DIF -11.54 / DEA 1.16 / HIST -12.70
- Low: *420.43$* / High: *658.87$*
1- Trend
From 420.43$ to 658.87$ = *+56.7%* strong rally
Then from 658.87$ to 513.42$ = *-22%* correction
- SAR was below the price from 420$ to 658$ = uptrend
- Now SAR is above the price at *590.25$* = trend has turned bearish
- Price is *-7.1%* below SAR, but is rebounding today, up +4.47%
2- MACD
DIF -11.54 is below DEA 1.16, and the histogram is red at -12.70 = bearish momentum
But DIF has started turning upward, and the red histogram has begun to shrink after being large at the peak = selling pressure is weakening.
3- Support and resistance
*Resistance:*
- *565.88$ - 590.25$ (SAR) - 618.34$ - 658.87$*
*Support:*
- *548.02$ current - 515.89$ - 513.42$ - 460.96$ - 420.43$*
Summary
*22% correction after a +56% rally - attempting a rebound*
Same market pattern: peak at 658$, then a drop below SAR, followed by a green candle today, up +4.47%.
Today's rebound is good, but it needs to break above the SAR to confirm a reversal.
- Price: *547.98$ +4.47%*
- 24h high: *553.88$* / 24h low: *515.89$*
- Volume: 112,831 AMD / 60.94M$
- SAR: *590.25*
- MACD: DIF -11.54 / DEA 1.16 / HIST -12.70
- Low: *420.43$* / High: *658.87$*
1- Trend
From 420.43$ to 658.87$ = *+56.7%* strong rally
Then from 658.87$ to 513.42$ = *-22%* correction
- SAR was below the price from 420$ to 658$ = uptrend
- Now SAR is above the price at *590.25$* = trend has turned bearish
- Price is *-7.1%* below SAR, but is rebounding today, up +4.47%
2- MACD
DIF -11.54 is below DEA 1.16, and the histogram is red at -12.70 = bearish momentum
But DIF has started turning upward, and the red histogram has begun to shrink after being large at the peak = selling pressure is weakening.
3- Support and resistance
*Resistance:*
- *565.88$ - 590.25$ (SAR) - 618.34$ - 658.87$*
*Support:*
- *548.02$ current - 515.89$ - 513.42$ - 460.96$ - 420.43$*
Summary
*22% correction after a +56% rally - attempting a rebound*
Same market pattern: peak at 658$, then a drop below SAR, followed by a green candle today, up +4.47%.