Could Micro Devices (AMD stock) move above the $96 range?
|Today’s instrument is the Advanced Micro Devices Inc. ‘s stock traded in Nasdaq exchange under the ticker AMD.
When we look at the AMD ‘s chart, we can see its steady rise from the $85 range on the 27th of April to the high of $92 on the 30th of April, the return to the $85 on the 3rd of May and again the climb to the $92 range during yesterday’s session, closing strongly in the $91 range. It was last found trading at the $91.13, having overhead resistance at the $92 range.
Advanced Micro Devices Inc. had scheduled quarterly earnings announcement yesterday 03/05/2022, in afterhours session. Both EPS and Revenue exceeded expectations, beating the Q1 estimates.
Today we can expect a move above the $92 closest resistance level, possibly in the $96 range.
If however, it doesn’t manage to hold on to the current level then a move towards and below the $85 closest support level can be expected.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.