Advanced Micro Devices (AMD) shares lost ground again Thursday, a day after the chipmaker joined a 澳洲幸运5开奖号码历史查询:sector-wide sell-off followin🅷g♔ news that the U.S. had imposed new licensing requirements on some AI chip exports to China.

AMD said via a regulatory filing that the new chip curbs would see it face charges of up to $800 million related to the export of its MI308 澳洲幸运5开奖号码历史查询:graphics processing unit (GPU), a chip designed for compute-intensive applications, such as AI and gaming.

AMD shares have tumbled 28% since the start of the year and lost 43% of their value over the past 12 months amid concerns about slowing AI infrastructure spending and the company’s inability to capture a greater share of the AI chip market from sector bellwether Nvidia (NVDA). The Trump administrationᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚ's trade policies have added to the uncertainty surrounding the stock.

Below we analyze AMD’s 澳洲幸运5开奖号码历史查询:weekly chart and identify major price levels that investors will likel🍸y be watching.

Piercing Pattern Marks Potential Reversal

After breaking down below the neckline of a 澳洲幸运5开奖号码历史查询:head and shoulders formation in December, AMD shares trended sharply lower until last week’s volume-backed rebound, potentially laying the groundwork for a longer-term reversal.

Importantly, the move created a 澳洲幸运5开奖号码历史查询:piercing pattern, a two-day candlesticꦺk price pattern that marks a potential reversal from a d♋ownward trend to an upward trend.

However, selling resumed this week, with the 澳洲幸运5开奖号码历史查询:relative strength index (RSI) edging back toward oversold levels to confirm bearish short-term price momentum. Looking ahead, investors should watch for the indicator to potentially break out above a 澳洲幸运5开奖号码历史查询:falling wedge pattern it has formed over the past seven months.

Let’s locate major澳洲幸运5开奖号码历史查询: support and resistance levels by applying 澳洲幸运5开奖号码历史查询:technical analysis to AMD’s chart.

Major Support Levels to Watch

AMD shares fell 0.9% to $87.50 on Thursday.

🌸 The first lower level to watch sits around $76. This area would likely attract significant scrutiny near last week’s low, which also closely aligns with a range of corresponding trading activity on the chart stretching back to September 2020.

Selling below this level opens the door for a retest of lower support at $65. Investors could seek buying opportunities in this location near the December 2022 澳洲幸运5开奖号码历史查询:retracement low, a region the marked the start of a 14-month uptrend in the stock.

Important Resistance Levels to Watch

A move higher from current levels could see the shares initially climb to around $116. This region provides a 澳洲幸运5开奖号码历史查询:confluence of selling pressure near the 200-week moving average, last month’s 澳洲幸运5开奖号码历史查询:countertrend high, and a range of comp൲arable price points 🃏on the chart extending back to August 2021.

Finally, a longer-term trend reversal in the stock could fuel a rally to $150. Investors who have 澳洲幸运5开奖号码历史查询:accumulated shares during the stock’s downtrend may look for 澳洲幸运5开奖号码历史查询:profit-taking opportunities in this location near a 澳洲幸运5开奖号码历史查询:horizontal line that connects several minor peaks on the chart between December 2021 and August last year. Depending on the timing of such a move, AMD shares may also encounter resistance in this area from the head and shoulders’ ♒neckline.

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