Key Takeaways
- AMD shares gained ground in extended trading on Tuesday after the chipmaker posted first-quarter earnings that surpassed Wall Street expectations, boosted by surging data center sales.
- The stock has rallied toward the upper trendline of a descending channel and 50-day moving average, two indicators that provided significant resistance on the chart in late March.
- Investors should watch major support levels on AMD’s chart around $93 and $78, while also monitoring crucial resistance levels near $116 and $132.
Advanced Micro Devices (AMD) shares gained ground in extended trading on Tuesday after the chipmaker posted first-quarter earnings that surpassed Wall Street expectations.
Sales in the company’s data center segment…
