Large cap technology stocks have been bull market leaders, pushing the stock market higher into 2020. One of those leaders has been Advanced Micro Devices NYSE: AMD.
But investors were not impressed with Advanced Micro Devices (AMD) financial outlook this week and sent the stock lower.
This isn’t good news for stock market bulls… at least as of right now.
Looking at the “monthly” chart of AMD below, we can see that this move lower is coming after testing breakout price resistance (at old highs). And this turn lower may be contributing to a bearish reversal pattern.
Stock market bulls hope that AMD breaks out here, not tops!
Bulls need to step up and defend this price reversal soon. Stay tuned!
$AMD Advanced Micro Devices “Monthly” Chart
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