Time to Buy the Dip on Struggling Semiconductor Stock

Advanced Micro Devices Inc (NASDAQ:AMD) has not been spared from the recent tech rout. Shares of the chip giant are down 28% off its Oct. 29 record high of $267.08, and 10% lower on the year. If past is precedent, though, it might be time to buy the dip from this double top formation, with the semiconductor stock testing a historically bullish trendline.Per Schaeffer's Senior Quantitative Analyst Rocky White, AMD is within 0.75 of its 200-day moving average, after remaining above this level 80% of the time ...