Advanced Micro Devices (AMD) (US) - Weekly

AMD - Weekly - Support has held well at $100. Initial targets are now $124.

Technicals

AMD Inc (NASDAQ: AMD) is a US semiconductor tech business. From a technical aspect, AMD on the weekly looks positive. The stock has bounced off the trendline support dating back to the COVID low very nicely. Major support sits at $100. Unless AMD breaks and closes below here on the weekly would the view become more neutral. Towards the upside, initial targets are $124, followed by $133 and then $156. A break above here takes AMD back to all-time highs, but this could be for some time. MACD is trending negative but looks to cross over positive soon and RSI reads 45.