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Is Advanced Micro Devices Headed For Gap Fill Or Will This Bearish Pattern Dominate?

Benzinga Real-time News ·  Jun 24, 2022 14:38

$Advanced Micro Devices(AMD.US)$was spiking up more than 5% higher on Friday in tandem with the S&P 500, which was surging about 2.5% higher.

On Wednesday, Morgan Stanley analyst Joseph Moore reinstated an Overweight rating on AMD with a price target of $103. The price target suggests about a 19% increase from the stock's current share price.

Moore's bullish view did little to boost AMD's stock price on that day but the stock had already started to reverse into an uptrend two days prior and on Friday, AMD confirmed the trend.

An uptrend occurs when a stock consistently makes...

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