AMD - Chartupdate and Insights before the Quarterly Report

AMD Share Price Development

After the strong rally in the summer of 2023, AMD's share lost a quarter of their value. The psychologically important $100 mark was clearly broken and the share price fell to $75 at times. However, the bulls managed to defend this level. Since then, the share price has recovered a little, but is still trading deutlich below its highs.

The share price recently received a boost from positive news about the upcoming quarterly figures. According to analysts, AMD is expected to significantly exceed market expectations. This could give the share price another boost in the short term. However, it is important to note that the market environment remains challenging. Rising interest rates and the threat of a recession could weigh on the share price in the medium term.

Technical Analysis of AMD's Share Price

From a technical perspective, AMD's share price is in a consolidation phase. The share price has been trading in a range between $75 and $90 for several weeks. Both the bulls and the bears are currently neutralizing each other. A breakout from this range would provide clarity about the further direction of travel.

If the bulls manage to push the share price above $90, a further rally to $100 would be possible. Above this level, there is further resistance at $110. On the downside, the $75 mark is the next important support level. If this level is broken, a further decline to $70 would be possible.

Conclusion

AMD's share price is currently in a consolidation phase. A breakout from this range would provide clarity about the further direction of travel. In the short term, the share price could receive a boost from positive news about the upcoming quarterly figures. However, it is important to note that the market environment remains challenging. Rising interest rates and the threat of a recession could weigh on the share price in the medium term.