AMD Price Levels to Watch as Stock Tumbles After AI Chip Unveiling
Key Takeaways
- Shares of Advanced Micro Devices tumbled Thursday as the chipmaker’s new AI lineup failed to excite investors who are eager to see the company take on Nvidia.
- The stock has run into selling pressure near the upper trendline of a descending channel, with Thursday’s drop occurring on the heaviest trading volume since the early-August selloff, pointing to conviction behind the move lower.
- Investors should watch key lower levels on AMD’s chart around $162, $142, and $122, while also monitoring an upside price target at $220 projected using the measuring principle.
Shares of Advanced Micro Devices (AMD) fell 4% on Thursday as the chipmaker’s new AI lineup failed to excite investors who are eager to see the company take on…
