Tech Splits: Is the Megacap Trade Finally Over?
The technology sector could be splitting as investors focus on smaller chip stocks and abandon megacaps.
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Advanced Micro Devices has sat calmly with other AI chip stocks rallying, but some traders may see upside potential.
The first pattern on today’s chart is the series of lower highs between mid-August and mid-September. AMD is now past that falling trendline, which could suggest the downtrend is fading.
Second is the November high of $150.71. AMD crossed that level in mid-July and …
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Advanced Micro Devices (AMD), daily chart, with selected patterns and indicators, courtesy of TradingView.