AMD has been on a downward spiral printing bearish consolidation patterns after each drop.The negative earnings report recently didn't help the stock price as you can see it has plummeted to a major support level.
It hasn't shown any signs of reversal yet. If it breaks below $72 it doesn't have much support until $59 area. YIKES!
As most tech stocks, AMD is overvalued in its current price.
The company has initiated a pullback on the consumer PC department (as sales have declined) and acquired a company this year to position growth in AI, apps and robotics.
AMD is well positioned and one of my top tech picks for bear market accumulation, as our world continues to develop in the digital age, AMD is a leader in memory and storage and is modeling change for future growth.
I believe AMD is a solid company that is positioned for new heights.
This is NOT Financial Advice.
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