AMD Initiates Our Anticipated Rally ... What's Ahead?

by Mike Paulenoff
October 9, 2021 • 12:00 AM EDT
In his September 30th chart analysis for MPTrader members, Mike Paulenoff wrote bullishly about AMD, noting:
"AMD has piqued my interest technically because all of the price action off of its ATH at 122.38 (8/04) into the September lows at 99.51 (9/20) and 99.81 (9/29) has the right look of a complete, or nearly-completed correction of the prior major advance off of the 5/13 low at 72.50. As long as the 99.50 support area remains viable support, my pattern work indicates that AMD is starting a new upleg that projects to a higher ATH in the 130 target zone."
AMD, which was trading at 103.49 at the time, tested and retested the 99.82/83 level, but preserved the 9/29 low at 99.81 before thrusting off support, climbing to a high of 107.95 this past Thursday.
The stock closed up 2.6% for the week, outperforming SPY (-1.8%) and QQQ (+0.3%).
What's next for AMD?
Mike wrote on Thursday that the stock is poised to "challenge its key resistance line off of the ATH (122.38), now in the vicinity of 106, which I expect to be taken out, triggering upside potential that argues for new ATH's above 122.38, into the 130 target zone."
He adds, "In that, the form of the rally from the 9/29 low at 99.81 to the 10/07 high at 107.95 exhibits bullish form, the current technical setup has very promising implications for upside continuation and acceleration in the upcoming days."
Join Mike and our MPTrader members for their forthcoming strategy sessions about AMD, as well as many other individual stocks, ETFs, macro indices, commodities, and cryptocurrencies.
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international
markets, plus key ETF component stocks in sectors like technology, mining, and banking.
Sign up for a Free 7-day Trial!
In the early afternoon on April 11, this was my note to our members:"IBIT (iShares Bitcoin Trust ETF)-- From a trading perspective, anyone who is in sync with the Bitcoin setup might consider owning IBIT (iShares Bitcoin ETF) against a stop below its 4/07/25 low at 42.98 (see my attached Daily Chart below)...
Last Thursday (4/17/25) afternoon, ahead of NFLX (Netflix) post-close earnings report and the three-day Good Friday holiday weekend, we discussed the technical setup and whether or not the NFLX pattern was positioned to react positively to the news : The NFLX setup heading into Earnings later today is favorable for upside continuation above the prior two rally highs at 993.45 (4/15) and 998.70 (3/25), but not to a new ATH above 1064.
Last Thursday afternoon (4/10/25), the commentary below is what I discussed with MPTrader members about my Big Picture technical setup work: Tomorrow is the final session of the week. We get some big bank Earnings and PPI before the open, and more than likely, one or more POTUS televised events that undoubtedly will move markets one way or other. Technically, tomorrow's (Friday) close will be important to my Weekly Chart Work.
At the beginning of last week, fellow members Rayray and GordonGekko asked for my technical setup work on BX (Blackstone Inc). This is what we discussed on the morning of March 25, 2025:My attached Daily Chart shows the November 2024 to mid-March 2025 correction (-32%) followed by the recovery rally from 135.60 to 153.18.
On March 10, 2025, fifteen minutes before the closing bell and Oracle's forthcoming Earnings Report, below was the analysis I posted to the MPTrader Discussion Room about ORCL:"... My preferred scenario indicates a negative reaction to the news that sends ORCL reeling to test important support at 139.50-141.20-- where ORCL MUST reverse to the upside to avert triggering still lower projections into the 118-123 (back the truck up) target window... Last is 149.32"...