Peter Smith
⬤ Advanced Micro Devices kept its momentum going this morning, holding above the $217 mark as traders watched the chip maker maintain ground near multi-week highs. The stock's been climbing steadily and is now hovering in a tight range just below the $220.48 peak it touched recently.
⬤ The chart reveals AMD sitting comfortably near $218, with a key support zone forming between $204 and $210 where the stock consolidated before its latest push higher. That sideways action near the highs suggests the stock is stabilizing rather than showing signs of sharp swings either way.
⬤ As one of the most closely watched semiconductor names, AMD's price movement often reflects broader market appetite for tech and AI infrastructure plays. The big question now is whether the stock can hold this momentum near $220 or if it'll drift back toward that $205-$210 support area during a normal pullback.
⬤ What makes the action above $217 worth noting is how close AMD is sitting to its recent peak. The stock's ability to stabilize here rather than giving back gains is keeping confidence high, and its next moves could set the tone for other chip stocks in the coming sessions.
Peter Smith
