AMD has had a pretty incredible 18 months - reaching into the teens for the first time in 10 years. Over the past couple months, we've seen a pretty substantial drop in price, from over $14/share down to $9.94 yesterday - a 29% dip. Looking over-sold at the moment.
We're getting close to the end of this falling wedge, right near the long term support line, and could be looking at a bump North of $12 by Christmas. This will depend largely on breaking out of the pattern and successfully testing recent resistance around $11.45.
We're getting close to the end of this falling wedge, right near the long term support line, and could be looking at a bump North of $12 by Christmas. This will depend largely on breaking out of the pattern and successfully testing recent resistance around $11.45.