Hubert Senters here.
Let’s take a look at AMD. We’re going to do a Fibonacci projection.
And some of the software that may call that projection or an extension.
In TradeStation they call it extension. What we’re going to do is we’re going to drawl it from here.
Let me grab the tool. This low and this high. And then this high or low. So you can see it already went to $51.03 which is what we’re looking for.
Next target is going to be $54.13 followed by $57.24 and $59.16. Now, let me give you a little bit of advice here. Don’t just look at. The next target is $54.13. That’s an area. It could be $54. It could be $55.
We’re just looking at the broad number there $54.13. Don’t be so stubborn that you’re like I am not taking a target until it hits $54.13. Don’t do that. This is an area of interest.
If you want to take profits after it gets there that’s a good idea. If you want to hold and it cuts through a hot knife through a butter and you want to hold it for $57 or $59. That’s fine too.
Good luck. Hope it helps. See you on the next video.
Hubert.
