AMD Stock Tops $250 Ahead of Earnings Release
On 4 November, later than the close of the main trading session, Advanced Micro Devices (AMD) will publish its quarterly earnings report and share guidance for the coming months. Investor sentiment remains upbeat, fuelled by several major developments in October that reinforced AMD’s growing presence in the AI infrastructure market:
→ AMD shares rallied sharply ahead in the month following reports of a multibillion-dollar partnership with OpenAI.
→ Oracle Cloud selected AMD’s GPUs to power its next-generation AI supercomputers.
→ IBM revealed a quantum computing breakthrough achieved with the assist of AMD processors.
This string of positive news has lifted AMD’s stock above the key $250 psychological barrier, marking a 61% surge since ahead October and setting a new all-time high.
Technical Outlook for AMD
From a technical perspective, AMD’s stock has been trading within a broad upward channel (highlighted in blue) since April:
→ The earlier correction phase (shown in red) gave way to a sharp bullish recovery.
→ The stock is now testing the upper boundary of the blue channel.
The thickened support and resistance lines suggest that the slope of the uptrend is steepening, reflecting growing momentum. However, much will depend on today’s earnings figures. Traders are looking for CEO Lisa Su’s comments on revenue prospects and the company’s position in the AI-driven semiconductor race.
If results or forecasts fall short of market expectations, a price pullback could occur:
→ initially toward the lower support area;
→ or potentially to the median line of the blue channel.
Conversely, bullish traders may attempt to push the price above the upper boundary, extending the blue channel.
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