Watch These AMD Stock Price Levels as Chipmaker’s Data Center Sales Drive Earnings Beat

Shares of Advanced Micro Devices (AMD) received land in extended trading on Tuesday when Chipmaker posted the first quarter earnings, which crossed the hopes of Wall Street.

The sales in the company’s data center segment rose 57% in the quarter, which would help to remove the concerns of the recession in the AI ​​spending amid uncertainty about what effect the tariffs of Trump administration will have on global development. However, the chipmaker warned that its results would be affected by allegations of about $ 800 million related to tightening export sanctions on the sale of their chips to China.

Through Tuesday close to Tuesday, AMD shares had increased by 18% since the onset of the year and increased by at least 30% on April, which was removing the performance of S&P 500 in those periods. On Tuesday, the stock increased by 1.7% to $ 100.32 in the stock trading.

Below, we take a close look at the chart of AMD and implement technical analysis to identify major price levels that investors will probably be looking at.

Consider descending channels

AMD shares have trended less within a descending channel since October last year, tagging the upper and lower trendline of the pattern on several occasions from that time.

Recently, Stock has rallies towards the channel’s upper trendline and 50-day moving averages, two indicators that provide significant resistance to the chart at the end of March.

Meanwhile, the relative Strength Index (RSI) has recently returned beyond the 50 limit beyond the chipmaker’s earnings report to indicate the improvement in the speed of the price.

Let us indicate several major support and resistance levels on the chart of AMD that may come into the game.

Major support levels for viewing

The first lower level of view sits around $ 93. The region on the chart can provide support near the major October 2023 low, which also closely align with the duration of trading activity at the end of the last month.

To protect this important technical level, the failure of the bulls falls for low support at $ 78. Investors can seek purchase-and-catch opportunities near the bear mesh of stock in this area April cum.

Important resistance level for surveillance

When an earning-run step is more, it is worth monitor at the level of significant $ 116. The stocks can withstand sales pressure in the region near a horizontal line in the region that combines the December 2023 retracement low with peaks formed on the chart in February and March this year. It is worth indicating that this level also sits at 38.2% Fibonacci Retress level, when the grid is applied from October high to April.

Finally, purchasing above this level can lead to a retract of overhead resistance around $ 132. Investors who have deposited AMD shares at low prices can take a remarkable August swing of last year and can decide to lock in profits in the region near the early January Countend High of January.

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As this article was written, the author has none of the above securities.