Chart Talks: Will AMD’s new GPU launches drive a stock breakout?
AMD's short-term outlook seems to be bearish. It has been falling for 2 months. It's below its 50-day and 200-day averages.
Reasons include the global chip shortage, competition from Nvidia and Intel, and issues with acquiring Xilinx.
Technically, AMD is consolidating between $108-$112, showing low volatility. It's oversold but faces resistance at $112.
Support is at $108, with possible drops to $104, $100, and $96 if it falls below.
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