Chip Stock Due for Short-Term Bounce

Shares of Advanced Micro Devices Inc (NASDAQ:AMD) are extending yesterday's 10.6% post-earnings drop, down 3.1% at $144 at last glance and breaking into negative territory for the year. A short-term rally could be on the way, however, if past is precedent.The semiconductor name pulled back to its 320-day moving average during this week's negative price action, and per Schaeffer's Senior Quantitative Analyst Rocky White, it's run into this trendline three times in the last three years. For the purpose of thi ...