AMD At $135? That Just Might Be The Launchpad

Core Insights - Advanced Micro Devices Inc. (AMD) has experienced a significant decline of nearly 25% over the past year and 10% in the last month, but recent technical indicators suggest a potential rebound [1] - The stock price has retraced to the $135-$137 range, which coincides with strong technical support and fills a recent breakout gap, indicating a possible launchpad for recovery [1][2] - AMD's recent delivery of MI350 units may signal a resurgence, as historical patterns of pullbacks followed by rebounds are being observed again [2][3] Technical Analysis - AMD is currently positioned above its 20-day, 50-day, and 200-day moving averages, which is typically considered a bullish setup [3] - The MACD indicator is in bullish territory, and previous dips this year have attracted buyers, suggesting a positive market sentiment [3] - Traders are identifying the $136 range as a favorable entry point, with potential upside targets around $170 and risk management set below $125 [4] Market Context - In a semiconductor market largely influenced by Nvidia Corp (NVDA), AMD may be preparing for its own significant movement, presenting an opportunity for investors who may have missed earlier gains [4]