Stock of the day: AMD

The price action on AMD looks very promising, showing technical movement since the end of 2022. If the price continues to respect the price action, we may see a proper buy signal soon.

Currently, AMD is in a clear uptrend, respecting the black uptrend line, which is currently the most important support. There have been three corrections so far, with two of them resulting in the price breaking the upper green line. The third correction is similar, but we are still waiting for a breakout of the green line.

Once the price bounces off the black uptrend line and breaks the third green line, we may get a proper mid-term signal to buy. The chances of this happening are quite significant, making it my base scenario for AMD

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-amd