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Can This Semiconductor Stock Rally Into The End Of The Year?
Michael Swanson
December 03, 2024
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Check out this chart of AMD, because it is now trading in a very narrow range with resistance at $143 and support at $135.
I’m watching to see if it can close above $143 one day before the end of this week.
If it does I’d consider that a pivot up, which should lead to rally back up into the end of the year.
The stock has been lagging the S&P 500 since March, so I don’t think it’s good for a long-term investment. There are better stocks for that, but this looks like an interesting short-term trade setup.