Resistance

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>AMD stock price dropped below $100.00 and turned bearish.&nbsp;</a> </li> 
 <li> <span>2</span> <a>Advanced Micro Devices stock price entering into a correction phase.</a> </li> 
 <li> <span>3</span> <a>Advanced Micro Devices Inc. scheduled quarterly earnings on October 31, 2023.</a> </li> 
</ul> 
<p>Advanced Micro Devices, AMD stock price fell 16% (approx.) from the recent swing high at $111.49. It continues to trade inside the downward-sloping parallel channel and forming a bearish pattern.&nbsp;</p> 
<p>AMD stock price is entering a correction phase and sellers keep on pulling the prices down. It slipped below the 50-day and 200-day EMA showcasing a downtrend.&nbsp;</p> 
<p>Recently, AMD’s share price broke the $100 support which hurt the sentiment of the long-term investors.&nbsp;</p> 
<p>However, the recent downfall is mainly due to a sell-off in the broader market. So, if the broader market recovers then AMD stock price may show a recovery.&nbsp;</p> 
<p>In the coming week, investors’ eye is on quarterly results which will also directly impact the stock. In the last four months, AMD’s share price has declined by forming lower low swings.&nbsp;</p> 
<p>Slow and steady prices eroded the 30% of the gains generated in 2023. However, if the stock price declines further then it might raise concern for the long-term investors.&nbsp;</p> 
<p>Advanced Micro Devices stock price closed the previous session at $96.43 with an intraday rise of 2.95%. The market capitalization stands at $155.80 Billion.</p> 
<h2 class="wp-block-heading" id="strong-will-the-correction-in-amd-stock-price-continue-strong"><strong>Will the Correction in AMD Stock Price Continue?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh7-us.googleusercontent.com/m-3R4RyUhP1JHEq9ONDZgQ0RGEbzeEVOLqYYFaYDiBeItmeLMkrSwZIBHo1viUmAg4U51uCpcM-mYGgnmuh3LVUC47ZYKfvqyyn-qrDF6RoVbfKPSIJS10EkRrFGftuIgG8um13oToTYPbv3UtakBUY" alt="AMD Stock: Will AMD Stock Price Regain $100 Mark After Earnings?">
  <figcaption class="wp-element-caption">
   <a href="https://www.tradingview.com/x/vfMMp0Yh/">NASDAQ: AMD chart by Tradingview</a>
  </figcaption>
 </figure>
</div> 
<p>AMD stock price is trying to defend the $95.00 swing low support. Multiple times buyers have given short-term pullback rallies. But the sellers are shifting down and keep on rejecting the prices.&nbsp;</p> 
<p>Advanced Micro Devices, Inc. is expected to release the earnings on October 31, 2023.&nbsp; The EPS and revenue predictions of analysts are 0.68 and $5.7 Billion respectively.&nbsp;</p> 
<p>If the company meets the estimates then the correction in the <a href="https://www.thecoinrepublic.com/2023/10/23/amd-stock-shed-over-8-expected-to-follow-the-bearish-macd/">AMD stock</a> may take a halt and a rebound is possible. However, if the company failed to meet the estimates then correction in <a href="https://www.thecoinrepublic.com/2023/10/23/amd-stock-shed-over-8-expected-to-follow-the-bearish-macd/">AMD shares </a>might continue.</p> 
<h3 class="wp-block-heading" id="strong-will-advanced-micro-devices-stock-price-consolidate-strong"><strong>Will Advanced Micro Devices Stock Price Consolidate?</strong></h3>  
<div class="tradingview-widget-container">
  &nbsp;&nbsp;
 <div id="tradingview_bfca7"></div> &nbsp;&nbsp;
 <div class="tradingview-widget-copyright">
  <a href="https://www.tradingview.com/" rel="noopener nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
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 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp;
 <script type="text/javascript">

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  {

  "width": 950,

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<p>Advanced Micro Devices’ stock price has corrected a lot from its highs. So a narrow range consolidation is also possible after earnings.&nbsp;</p> 
<p>The volatility in the stock may rise in the coming weeks so investors need to be careful and wait for the price to close above $100. Till AMD stock trades below $100.00, bears will remain active and the reliability of the pullback will remain doubtful.&nbsp;</p> 
<p>The stock price must come out of the downward-sloping channel to break the chain of lower lows. Otherwise, short sellers will continue their dominance in the stock.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Advanced Micro Devices, AMD stock price fell 16% (approx.) from its swing high and dropped below the $100 support. However, the quarterly earnings are scheduled next week which might decide the next direction of the stock.&nbsp;</p> 
<p>The analysis suggests that AMD stock is in a correction phase so it will be difficult for bulls to regain the $100 mark.</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li>Resistance levels: $111.49 and $119.66</li> 
 <li>Support levels: $90.00 and $81.16</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

AMD Stock: Will AMD Stock Price Regain $100 Mark After Earnings?

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