AMD rides the wave

20 Mar 2020

AMD is one of the most resilient tech stocks in the S&P so far in this tumultuous market. It has fallen close to the December 2018 support but since there is a substantial amount of trading volume at the current ~$40 price point, we could see AMD rally tomorrow. As far as indicators go, RSI and Aroon point to neutral status so this is entirely dependent on the strength of the SPY ETF rather than AMD to make a move tomorrow. For SPY the RSI is current exhibiting moderate bullish divergence on the daily chart. Good luck!