Technical Analysis Of Advanced Micro Devices Inc.

May 3, 2023 at 5:00 AM EDT

Stock Exchange, Courses, Shares, Trading, Forex

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

Looking at AMD’s chart, we can see that it is in an uptrend, reaching the current price of $89.91. Last night, after the market closed, it announced better-than-expected quarterly earnings with a brighter outlook. This could lead to a price increase today, but as it was already up due to the market’s positive anticipation in the past days, today we could expect a small correction towards the level of $85, and then we should see an upward reaction, closing at the end of the day, higher than last night’s close price. However, the close price will depend also on the FOMC statement which might either boost the upward direction or it could reverse it.

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AAATrade's Intraday Technical Analysis of Advanced Micro Devices' Inc. - 03/05/2023

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