Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>AMD stock price has been declining through an interesting pattern over the daily time frame chart.</a> </li> 
 <li> <span>2</span> <a>Advanced Micro Devices stock is trading at 20-EMA to maintain above 200-days DMA and reach the 50 and 100-days daily moving averages.</a> </li> 
 <li> <span>3</span> <a>Advanced Micro Devices Inc. (NASDAQ: AMD) stock gained 56.47% year to date.</a> </li> 
</ul> 
<p>AMD stock price may recover towards the $120 mark as soon as it breaks out of the falling pattern over the daily time frame chart. However, AMD shares have been slipping through an interesting falling pattern since June 2023. Now buyers need to come forward for the rescue of AMD shares. Meanwhile, 100-days DMA line is acting as a primary resistance of AMD share price. As AMD stock price struggles to reach the 100-days daily moving average to register its recovery phase.&nbsp;</p> 
<p>In addition, Advanced Micro Devices stock is currently trying to sustain at the 20-EMA line to maintain its recovery during Tuesday’s trading session. Nevertheless, AMD share price needs to attract buyers in order to recover above the 100-days DMA and continue the surge towards the upper trendline. AMD stock price has been falling through an interesting declining channel since June 2023 over the daily time frame chart.&nbsp;</p> 
<p>AMD stock price was at $103.27 and has gained slightly around 0.44% of its market capitalization during Monday’s trading session. Trading volume was below average and needs to grow during Tuesday’s trading session. This indicates that buyers in AMD are being instructed to accumulate at a higher rate during Tuesday’s trading session.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-will-amd-stock-price-recover-above-this-level-strong"><strong>Will AMD Stock Price Recover Above this Level?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/g391pP6CyZI92ggZjyrJUmeCo4Ix84-6LUjSAPYpd4uSahf2IRTdkb-Rn7gO53Tx6ogXjb-95sAatBi_97v3wYZfYzbcWYD5N09VxV5EIfYm95rqnQUHLMFWz4CIWoUpdhHRwuSuD0cb5Sk-MQz-OnE" alt="Advanced Micro Devices Inc: Will AMD Stock Price Reach $120 Mark?"> 
  <figcaption class="wp-element-caption">
    Source: NASDAQ: AMD by <a href="https://www.tradingview.com/x/SepOXIVl/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>AMD stock price has been declining through an interesting descending parallel channel over the daily time frame chart. However, buyers need to accumulate at a higher rate in order to push AMD share price upwards. Volume change can be seen below average and needs to grow during Tuesday’s trading session. Meanwhile, Advanced Micro Devices stock is trading at 20-EMA to maintain above 200-days DMA and reach the 50 and 100-days daily moving averages.</p> 
<p>As soon as AMD stock breaks out of the 100-days DMA that is the primary resistance level then it may continue to surge and register its breakout from the declining parallel channel. Meanwhile, AMD stock gained around 7.63% in a week but fell 3.49% in a month. Moreover, AMD slipped by 10.32% in the last three months while managed to gain around 9.45% in the last six months.&nbsp;</p> 
<p>In addition, AMD stock has surged around 56.47% year to date. This confirms the facts regarding AMD stock’s maximum recovery in 2023.&nbsp;</p> 
<p>Technical indicators suggest the struggle of AMD stock inside the declining parallel channel pattern. Relative strength index (RSI) shows the slight uptrend in AMD shares. RSI was at 50 and is trying to recover from neutrality. Investors in Advanced Micro Devices Inc. <a href="https://www.thecoinrepublic.com/2023/09/14/amd-stock-amd-stock-has-potential-to-break-135-level/" rel="noopener noreferrer nofollow">(NASDAQ: AMD)</a> need to wait until AMD stock reaches the upper threshold of the declining pattern.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong>&nbsp;</h4> 
<p>AMD stock price may recover towards the $120 mark as soon as it breaks out of the falling pattern over the daily time frame chart. However, buyers need to accumulate at a higher rate in order to push AMD share price upwards. In addition, AMD stock has surged around 56.47% year to date. This confirms the facts regarding AMD stock’s maximum recovery in 2023. Technical indicators highlight the struggle of AMD stock inside the declining parallel channel pattern.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p><strong>Support Levels:</strong> $101.00 and $98.50</p> 
<p><strong>Resistance Levels:</strong> $104.95 and $109.55</p> 
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

Advanced Micro Devices Inc: Will AMD Stock Price Reach $120 Mark?

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