Chart of the Day: More Upside in Advanced Micro Devices?


Advanced Micro Devices rallied hard on strong results in late July. Now almost two months later, the chip stock may be ready for another move.

Notice the slow and lazy pullback since early August, which resolved with a quick test under $100 on Monday. AMD came within $0.28 of its previous peak from January 11. That might be close enough to say old resistance is new support.

Next, the 50-day …

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Advanced Micro Devices (AMD), daily chart with selected patterns, courtesy of TradingView.
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