(Update) AMD

Advanced Micro Devices (AMD) reached $84.88 last Wednesday, the bearish scenario’s second support that was highlighted previously. Price action has been forming a lower highs and lower lows since December 2021. Based on this price action, AMD is likely to trend lower with two downside supports seen at $78.96 and $72.76. However, a bullish scenario might occur upon an EMA10-EMA20 golden cross with resistance seen at $100 and $108.5.