Chart of the Day: Is This Chip Stock Rolling Over?

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Advanced Micro Devices has bounced sharply from its early-July lows, but some patterns could be pointing lower for the chip stock.

The first pattern on today’s chart is the descending parallel channel that’s been in effect most of the year. AMD’s latest highs represented a failure at the top of the channel, which could make some traders think prices will revisit the lower band.

Next is the price zone around …

For more, please click here to view the related idea and chart analysis on TradingView.

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