Unlike its competitor (Intel), the manufacturer of Ryzen CPUs has entered a phase of free rise, setting new all-time highs.
The highs set as a result of the presentation of quarterly results are now behind it. AMD is in free rise and the only obstacle that could hinder its upward thrust now is the high overbought accumulated during the last few weeks, logical if we take into account that the stock has appreciated 25% in little more than a month. The $135 level is now its next target to conquer, although a further extension in search of $142-145 would not be out of the question. Below, $118.10 (last relative low) and $100 are, for the moment, the closest primary support references to watch.
Resistances: It has not, in free rise.
Supports: $118.20, $112.50, $100.
Targets: (Bullish) $135, $142, $145, $150.
Trend structure in AMD:
- Short term: Bullish.
- Medium term: Bullish.
- Long term: Bullish.
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