AMD - falling towards the 200dma

Whilst the main market closed moderately mixed, there was further significant downside in Advanced Micro Devices (AMD), which settled -2.3% at $11.50. A break below soft rising support - around the $11.00 threshold, will offer a test of the 200dma, currently in the $10.40s.


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Summary

Suffice to add, AMD - along with most other tech stocks, saw a massive reversal last Friday. The Monday bounce was weak, and has been fully negated.

Further weakness to at least $11.00 seems due, with a viable test of the 200dma in the mid $10s within 1-3 days.

Mid term.... still bullish, and seeking a break above the Feb'28th high of $15.55 by late summer.