Resistance

Daily

View

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>AMD stock price shows a slippage below the 200-day EMA.</a> </li> 
 <li> <span>2</span> <a>Buyers try to grab the strength and struggle to attain $100.</a> </li> 
</ul> 
<p>Advanced Micro Devices Inc. (NASDAQ: AMD) AMD stock formed a falling wedge pattern, reversed from a recent swing high of $130, and retraced below the round mark of $100, showing selling pressure in the past sessions. However, the trend is bullish, and AMD stock may rebound soon and retest the cluster of $130.&nbsp;</p> 
<p>Moreover, the chart shows the incisiveness between the bulls and bears, which makes AMD stock swinging in the congestion zone. Furthermore, AMD stock is in a dilemma in that it faced specific issues to sustain above $100, and the runway was sold too quickly, a sharp reversal was witnessed in the past sessions.&nbsp;</p> 
<p>AMD stock price is trading above the neutrality and near the lower trendline and may attain a pullback to retain the spot of $100. However, the mighty bears need strength for a sharp throwback below the trendline; otherwise, AMD stock may recover slowly &amp; steadily and will trap the short positions in the upcoming sessions. AMD stock needs to surpass the 200-day EMA to maintain the bullish territory, whereas $100 is the ideal support zone, which was not easy to split again by sellers.</p> 
<p>At press time, AMD stock price is trading at $97.38 with an intraday gain of 1.23%, showing bullishness on the charts. However, the trading volume remained average at 43.224 Million, and the market cap is $157.334 Billion. Moreover, Analysts maintained a buy rating with a yearly target price of $143.07, suggesting a solid growth outlook for the upcoming sessions.</p> 
<p>Advanced Micro Devices, Inc. engages in the provision of semiconductor businesses. It operates through the following segments: Computing &amp; Graphics, Enterprise, Embedded, and Semi-Custom. The Computing and Graphics segment includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units, data centers, professional GPUs, and development services. The Enterprise, Embedded, and Semi-Custom segment includes server and embedded processors, semi-custom System-on-Chip products, development services, and technology for game consoles.</p> 
<h2 class="wp-block-heading" id="strong-amd-stock-view-on-daily-timeframe-as-per-fib-retracement-strong"><strong>AMD Stock View on Daily TimeFrame As Per Fib Retracement&nbsp;</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/OAH7-HnqLgPQuwNhXEMIYQdzOh_kYnVlfCWwksYI_bExTUDCpoVy_BQIuGy8jLqKzdZKk3erfZiniE9lECM2_8mXBAdHpmWmYOT3D4e4haEr1vKn1lpfFsJNXhLTJXC3TDCBjKXvLM2zDA09n_NjM4Q" alt="AMD Stock to Reach $100, an Ideal Pick to Add in the Portfolio?"> 
  <figcaption class="wp-element-caption">
    Source: AMD Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the daily charts, AMD stock price has retraced to the 50% Fib zone and is waiting for a decent pullback to attain a reversal. The chart shows buyers have persisted in accumulating the stock and long buildup activity. Furthermore, the option chain of <a href="https://www.thecoinrepublic.com/2023/08/29/amd-stock-price-prediction-will-amd-price-break-below-100/" rel="noopener noreferrer nofollow">AMD stock</a> indicates that strong call writing was done on the strike price of $100 over 1Cr. Shares, whereas strong put writing was done on a strike price of $95, signifies that sellers have tried their best to push AMD stock below $100 and succeeded.</p> 
<p>The RSI curve stayed in the oversold region and showed a negative crossover, which indicates that buyers still need momentum to retain the immediate swing of $100.</p> 
<p>The MACD indicator showed a bearish crossover, and red bars on the histogram suggest that AMD stock needs strong momentum to trap the bears.</p> 
<h4 class="wp-block-heading"><strong>Summary&nbsp;</strong></h4> 
<p>AMD stock price showed a fresh reversal from the recent swing of $130, and profit booking led to retesting the cluster of $100. However, the headwinds were done, and AMD stock may return soon to the highs of $150. Furthermore, the chart structure still favours the bulls and suggests a significant upside to $150 which might attain by the end of 2023.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $95 and $90</p> 
<p>Resistance Levels: $105 and $110</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

AMD Stock to Reach $100, an Ideal Pick to Add in the Portfolio?

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