AMD stock not giving up on setting a new all-time high Positive momentum gains traction But 261.8% Fibonacci extension may be hard to overcome Advanced Micro Devices (AMD) stock hit a new intra-day record of 184.79 in January but the price has since been drifting lower, with a battle ground forming around the 261.8% Fibonacci extension of the late December – early January selloff.

AMD stock has generated a structure of lower highs and lower lows Its close below the 200-day SMA deteriorates the outlook Momentum indicators aggressively tilted to the bearish side AMD’s stock has been forming a bearish technical pattern following its 2023 peak of 131.90 on June 13. In the previous daily session, the price closed below the 200-day simple moving average (SMA) and has been trading beneath it for two consecutive sessions for the first time since early March.

Advanced Micro Devices (AMD) will release its latest earnings on Tuesday, August 1, after Wall Street’s closing bell. Earnings are expected to have declined from last year, amid a sharp slowdown in gaming demand. Nonetheless, AMD shares have risen 76% so far this year, as investors are razer-focused on the company’s future prospects in the AI revolution.  AMD shares storm higher It has been a magnificent year for AMD shareholders.

Advanced Micro Devices Inc (AMD) is set to report its Q1 earnings results on Tuesday after Wall Street’s closing bell and the numbers are not expected to be spectacular. The company has been struggling to compete with its arch rivals, Intel and Nvidia, in the fields of computer and graphics processors. The supply glut within the chip industry has not helped either.

Stocks turn red amid renewed Sino-US tensions as Pelosi expected in Taiwan Yen extends winning streak, dollar also catches a bid as bond yields skid Aussie plummets after RBA decision, pound rally loses steam too as BoE eyed Threat of geopolitical flare-up dampens mood Risk sentiment took a knock on Tuesday as it emerged that the Speaker of the US House of Representatives Nancy Pelosi is on her way to Taiwan, defying China’s strong advice against visiting the disputed territory.