This chart shows how AMD is stuck between a falling and its 50-day ( ). Our Moving Average Speed custom script shows how the 50-day only turned positive two weeks ago.
Next, has narrowed to its tightest level since July 10, shortly before AMD’s last big surge.
Third, notice how has been rising since late May. The 8-day ( ) has also climbed above the 21-day . Both of those suggest the short-term trend is turning more positive.
Finally you have the $73.90 level, the top of the gap from July 29. AMD has held that level several times, including mid-May. Interestingly, the chart somewhat resembles Facebook in March, when the bears made one last assault before going into an all-out retreat. Traders may watch the trendline for evidence of something similar taking place in AMD .
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