AMD Showing Signs of Strength (SOS) at Last Point of Support (LPS) — Target $336-$402

AMD is currently presenting a very compelling setup for swing traders and long-term investors alike. After a massive breakout in October, we are seeing a classic Wyckoff retest.

The Setup: The stock has retraced to the $213 – $220 range, which serves as our “Line in the Sand” or the Last Point of Support (LPS) [06:21]. As long as AMD holds this level on decreasing volume during the retest, the bullish thesis remains fully intact.

https://preview.redd.it/yvj5j9ll03bg1.png?width=353&format=png&auto=webp&s=b346e307c1271ad9f14a76f57ca56040a1af2ba6

Why this looks like a strong swing trade:

• Sign of Strength: We saw a massive “Change of Character” with nearly 700 million shares traded during the October breakout [06:05].
• Cause vs. Effect: AMD has been building a “cause” within a 4-year reaccumulation range. Our Point & Figure computations suggest the “effect” (price target) could be between $336 and $402 [05:48].
• Harmony: Price and volume are currently in harmony, suggesting that the “Composite Man” is ready for the next markup phase [04:39].

What to watch for: For confirmation of the next upswing, we want to see volume increase as the price pushes back toward the $270 level [06:54]. If it holds the $213-$220 support and begins to turn, the path to the $336+ targets is open.

Full Technical Breakdown: I’ve done a deep dive into AMD’s 20-year history, previous target hits ($80 and $256), and the current reaccumulation math in this video:https://youtu.be/D-vGhtPmCQo?si=UgIy9gKZN72C3Cj7

Would love to hear your take on the semiconductor sector right now. Is AMD finally ready to lead the pack again?