Market Analysis: AMD Share Price Breaks August 2022 High


It happened last week. Since the beginning of 2023, AMD's share price has risen by 66%. According to technical analysts at Bank of America, AMD's share price has a bullish outlook; interestingly, just 2 weeks ago, the bank downgraded the stock.

According to analysts polled by the WSJ, AMD's average target price for a share is USD 102.68, which is below current levels.

How can the price of Advanced Micro Devices stock change?

From the point of view of technical analysis of AMD shares, the following barriers to continued growth can occur:

→ the level of 109.42, which is 50% of the decline in A→B;

→ the psychological level of USD 110;

→ the upper line of the ascending channel (shown in blue).

It is also worth noting the unfavorable fundamental background, where the news about raising the US national debt ceiling comes to the fore. ECB President Christine Lagarde on Sunday appealed to US politicians to resolve the conflict. And Treasury Secretary Janet Yellen told NBC that the US is unlikely to survive until mid-June still able to pay its bills.

Therefore, if the AMD stock chart pulls back — for instance, to the lower border of the blue ascending channel — this should not come as a surprise.

Buy or sell shares with CFDs in some of the world's biggest publicly listed companies on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Latest from Shares

Your Gateway to the Chinese Market: A Look at 10 Newly Added ETF CFDs A look at FXOpen’s new ETF CFDs: American, Chinese and Indian markets at your fingertips MSFT Analysis: New All-time High NVDA Analysis: Share Price Reaches 2-month High on News of New Chips Stocks Continue to Climb: Nasdaq's Impressive Winning Streak

Latest articles

Forex Analysis

European Currencies at Strategic Levels

The downward trend in the US currency continues to gain momentum. Thus, the euro/dollar pair yesterday tested important resistance at 1.1000, the pound/dollar pair strengthened to 1.2700, and the usd/cad pair fell below 1.3600.


Market Analysis: Stock Market Reaction to US GDP News

According to data released yesterday, the US economy is growing at a stronger pace than expected. Thus, US GDP in the 3rd quarter increased by 5.3% in annual terms (an increase of 4.9% was expected). Combined with softening


BTC/USD Analysis: New High for the Year Shows Bulls Are Indecisive

During November, the price of bitcoin increased by approximately 10% in anticipation of the launch of a bitcoin ETF. But the positive sentiment of crypto investors is seriously overshadowed by news regarding Binance: → Changpeng Zhao resigned as head of Binance.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.