Potential rise of AMD to its resistance level of $128

AAATrade Team AAATrade

Today’s instrument is the Advanced Micro Devices stock traded in Nasdaq under the ticker AMD.

Looking at the AMD’s chart, we can see that it is in an uptrend, reaching the current price of around $111.15. Next week, it is announcing its quarterly earnings and if the market’s anticipation is positive, then today we could expect it to rise towards its resistance level at around $128 otherwise, it should test the support level at around $107.50 and if it will not be able to hold it above that level, then it might drop towards the next one at around $95.

Author

AAATrade Team

AAATrade

The AAATrade Team has extensive experience in content writing for the financial industry. Stelios Nikolaou is the lead writer of the team, he currently works at AAATrade to provide research and content writing services.

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