AMD does not paint the best looking chart for bulls.

1 thg 3, 2021

From a purely charting prospective, I am neutral on AMD at the moment. It is closing below the 100 day moving average and forming lower lows on the daily RSI. Not a good look. I think in the near term we will see a pull back into the $75-$80 support zone and will likely range in that area until we get news or earnings in May. If the support zone breaks on the daily and closes below we are likely headed to $55 area before more support can be found. In the last few years AMD has been full of surprises though so a bounce of support could mean we are targeting fib levels up above $100-$120 in the coming months.