AMD Setup – Bullish Channel with Rocket Targets

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AMD Setup – Bullish Channel with Rocket TargetsAdvanced Micro Devices, Inc.BATS:AMDbitbry Ticker: AMD (Advanced Micro Devices) Timeframe: 4H Current Price: $129.40 Outlook: Bullish within ascending channel 🧠 Idea Summary: AMD is trading within a well-respected ascending channel, and after a brief pullback, price is rebounding off the lower trendline support. With increased volume and momentum indicators turning up, I’m anticipating continuation to the upside — possibly targeting new highs. 📊 Technical Analysis: 🔴 Rising Channel: The price is respecting both the upper and lower bounds of the ascending channel (highlighted in red). Each bounce off the lower channel line has led to a strong upward move. 🟡 Support Zones: $127.65 (9 EMA) and $117.87 (200 SMA) are serving as dynamic supports. Horizontal support near $170 has also been tested and held. 🟠 Resistance Zones: First major resistance at $187.75. Further upside potential if price breaks above this level — targets align with the "rocket" icons within the channel. 📈 Volume Spike: Strong green candle with high volume could signify institutional buying interest. 📉 Indicators: Stoch RSI is turning upward from oversold territory. RSI (14) is rising from 62, suggesting healthy bullish momentum. 🛫 Price Targets: 🎯 First Target: $173 🚀 Target 2: $187.75 🚀🚀 Target 3: $200+ if the channel holds and breakout occurs 🚀🚀🚀 Target 4: $230+ (aggressive bull case, upper channel extension) ⚠️ Risk Management: A breakdown below the channel (~$127) with volume would invalidate this setup. Use stop-loss below recent swing low (~$125) to manage risk. 📅 Key Dates: Watch for potential catalysts in mid-to-late August (earnings, macro events, etc.) 🔔 Conclusion: AMD is coiling for a potential breakout continuation. The structure is bullish, and the bounce off channel support with volume is a positive sign. A move above $173 could trigger a strong rally toward the $187-$200 range. ✅ Like if you find this helpful 💬 Drop your thoughts or setups in the comments! 📌 Follow for more trade setups