Is AMD’s Stock Topping? Stock Market Bulls Hope Not!

Chris Kimble

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

advanced micro devices stock price reversal lower amd stock market top january

Note that KimbleCharting is offering a 2 week Free trial to See It Market readers. Just send me an email to services@kimblechartingsolutions.com for details to get set up.

Twitter:  @KimbleCharting

Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

NOT INVESTMENT ADVICE – PLEASE READ INVESTMENT DISCLAIMER.