Advanced Micro Devices Stock Could Climb Above Resistance
| May 04, 2022 05:03AM ET
When we look at the Advanced Micro Devices (NASDAQ:AMD) chart, we can see its steady rise from the $85 range to the high of $92 on Apr. 30, the return to the $85 on May 3, and again the climb to the $92 range during yesterday’s session, closing strongly in the $91 range. It was last found trading at the $91.13, having overhead resistance at the $92 range.
Advanced Micro Devices had scheduled a quarterly earnings announcement yesterday 03/05/2022, in an after-hours session. Both EPS and Revenue exceeded expectations, beating the Q1 estimates.
Today we can expect a move above the $92 closest resistance level, possibly in the $96 range. If however, it doesn’t manage to hold on to the current level then a move towards and below the $85 closest support level can be expected.
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