AMD SHORT Head and shoulders pattern on AMD's hourly chart. This suggests a bearish flip might be on the cards soon, meaning we could see a price drop. It all hinges on the neckline - a solid break below this level would confirm the trend reversal.
Also, considering the buzz around AI is expected to cool off for a bit, AMD's stock could take a short-term hit. But remember, this isn't a crystal ball prediction. Keep an eye out for a spike in trading volume and any breaking news that could sway the market.
This doesn't spell doom for AMD though. Once we ride out the correction, the stock is likely to bounce back with more AI developments in the pipeline.
