AMD made a very big move today considering the markets were pretty quiet. With Wall Street singing high praise for their new line of Ryzen Chips geared towards gaming. With a big price target boost and upgrade today, buyers flooded into the stock and AMD is up over 10% so far for the session. Just as important, AMD is breaking out of the channel and looks to easily reach the $36 price target range given today. Considering how badly the sector has performed in recent weeks, AMD is now becoming the strongest performer in the sector right now. Strength in the face of broad weakness tells me the sentiment in the stock is really strong at the moment. While I am unsure of the stock will continue to break out to the upside, it sure is a lot better than INTC, NVDA, and AVGO for the time being. Expect AMD to try for that $36 level sooner than later.

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about the author:

Charles Moon

Charles Moon is a technical "whiz kid" whose experience lies in scalp/swing trading. A patient educator, Charles excels at coaching/mentoring and can make complex concepts simple. Prior to joining the ranks of Prosper Trading Academy, Charles was a proprietary equities trader with Great Point Capital LLC. Coming from a retail trading background, his experience can help those with no experience trading to seasoned veterans.

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