AMD has initiated a near-term breakout; clearing the major declining trend line at $523.40 is required for new all-time highs.

Lastly, before we get into the last chart, let me show AMD as well cuz AMD has had some good news as well elevating the stock up 5.9% today initiating a near term breakout from this pivot high that you see back here in July of 20 22nd of this year.

Now notice, this is certainly a fantastic move for AMD but we've got to clear these pivots which also likely are going to come in contact with this declining trend line. This is the big one guys, the one from the high on the chart connected to the next major pivot.

This would be the major line for AMD to cross to get into discussions for hitting the brand new all time highs and that level's at $523.40.

Already have a near term breakout here. So we'll see if we get a follow up push tomorrow. Close above today's candle that would mean any sort of pullbacks down to this declining trend line could be a buying opportunity for us eventually attack this larger declining trend line.

The one that I say is larger, basically the one with more strength and the one with more of a difference maker for this chart because it will actually propel it and could propel it to brand new all time high.

So big big line to watch on the sand there for AMD.