Categories: Business & Economy

Look at these AMD price levels while actions continue to skyrocket on Openai Deal

Main to remember

  • Advanced Micro Devices Pink Share Tuesday morning after Having a 19 -month summit at the news yesterday that the flea designer and the manufacturer of Chatgpt Openai signed a multi -year supply agreement.
  • The title organized a dramatic escape from a reversal head and shoulder model on Monday, laying the basics of the purchase of follow -up.
  • Investors must monitor critical general costs on AMD graphs around $ 227 and $ 272, while monitoring support levels close to $ 174 and $ 150.

Advanced Micro Devices (AMD) shares the rise on Tuesday after reaching the rise yesterday at a 19 -month summit at the news that the flea designer and the manufacturer of Chatgpt Openai signed a multi -year supply agreement.

Under the agreement, OPENAI undertakes to buy several generations of IA fleas from AMD in a long -term agreement which could see it take a 10% stake in the NVIDIA (NVDA) rival. AMD said that it provided for the agreement to bring it more than $ 100 billion new income over four years of Openai and other customers.

AMD shares, which jumped 24% on Monday, increased by more than 5% to around $ 215 during recent negotiations, putting the stock at a rhythm for a closing record. The action has increased by 77% since the start of the year, easily exceeding the yield of 40% of Nvidia during the same period.

Below, we take a closer look at the weekly AMD graphic and apply a technical analysis to identify the critical price levels to be monitored.

Reverse head and shoulder breakout

AMD Shares organized a dramatic escape from a reverse head and shoulder model on Monday, laying the basics of the follow -up of follow -up.

While the overvoltage coincided with the relative resistance index crossing a territory on the purchase, the indicator remains below peaks which preceded withdrawals in November 2021 and March 2024. However, the stock closed near its hollow for the day yesterday, indicating an exaggeration in the short term.

Let us highlight two critical air areas to monitor the AMD graph if the actions continue their raised race and also identify the support levels that deserve to be monitored during potential withdrawals.

Critical air areas to monitor

If the actions of the flea manufacturer find their momentum upwards, investors should initially keep track of the $ 227 zone. This location on the graph would probably attract special attention near Monday summit, which is by chance just below the record for the intraday high action in March of last year.

Investors can project an air area to monitor above the higher level of action using the measurement principle, a technique that analyzes graphic models to provide future price movements.

When applying the study on the AMD graphic, we calculate the distance between the opposite head and the head of the shoulders to the point neckline and adding this quantity to the neckline of the pattern. For example, the addition of $ 98 to $ 174 projects a bullish target of $ 272, or about 34% above the fence price on Monday.

Support levels that deserve to be monitored

During retractions, it is worth monitoring a potential filling of the share difference of yesterday at around $ 174. Investors would probably consider this as a high probability purchasing area near the opposite neck and shoulders, which could move from the resistance prior to future support.

Finally, a steeper withdrawal would open the door to a level of $ 150 level. This area of ​​the graph could provide support near the opposite head and both shoulders, which line up closely with the summit of December 2023.

The comments, opinions and analyzes expressed on Investopedia are for information only. Read our guarantee and our notice of responsibility for more information.

To date, this article has been written, the author has no titles above.

Source link

Michael Johnson

Recent Posts

Google launches its AI Vibe Opal coding application in 15 other countries

Google widens access to Opal, its AI Vibe coding application, in 15 other countries. The application, which allows you to…

21 seconds ago

Odell Beckham Jr. says he accepts 6-game PED suspension

Odell Beckham Jr. has accepted a six-game suspension for violating the NFL's performance-enhancing drug policy, delaying the star wide receiver's…

2 minutes ago

Mark Sanchez, Fox Sports being prosecuted by the man in an altercation of beading

Mark Sanchez, former quarter of the New York Jets, and his current employer, Fox Sports, are prosecuted by the man…

4 minutes ago

Democrats legally attack the language of the “radical left” during the closure: NPR

A screenshot of a message on the website of the United States forest service which, according to some, violates the…

10 minutes ago

Safety measures reinforced in Manipur before the probable visit of Prime Minister Modi on September 13

The security measures were reinforced in Imphal and at the headquarters of the Churachandpur district in anticipation of the probable…

13 minutes ago

Fed cuts may not lead to lower mortgage rates

The Fed uses interest rates to achieve its “dual mandate” of price stability and low unemployment. When inflation is high,…

14 minutes ago