AMD - TA Update 15 Nov 2022

$Advanced Micro Devices (AMD.US)$
- Many counters including SPY and QQQ are doing inverse basing (means forming an inverse cup) - right chart (30mins chart) last night (bullish?)
- And they are also forming a basing (cup) on the daily chart
- Both point to continued bullish tones with near-term pullbacks
- Is the bullish run still on?

Going forth
- I would wait for a firm close above 74 for AMD as it is a key resistance level
- Last night opened above but closed below.
- With that said, above 74 is certainly heavy in resistance
- 80 and 84 are targets
- Support remains 55