$AMD the 2nd fiddle fizzle?Looking at NASDAQ:AMD , you can see that AMD struggles to hold above $125. This brings up the question, "Will it be able to catch up to NASDAQ:NVDA ?" It appears that more time is needed. AMD remains a solid company with the potential to continue capturing more market share. Although AMD's chips are not primarily used for AI, it doesn't mean the company won't try to enter this race. Meanwhile, NASDAQ:INTC hasn't made substantial progress but continues to hold on to most of their legacy market share. Therefore, I like where AMD stands as it continues to close in on Intel.
Bullish Case - At present, AMD has tested the $125 level twice, suggesting that it is searching for more support. Let's see if AMD can find support and take a third shot at it soon. I see a great opportunity to monitor the levels to determine if we can make a lower high or accumulate below in a consolidation phase before breaking out to challenge the $125 level again.
Bearish Case - Let's be serious, there is a reason for this double top. It's time for it to make a significant pullback. It needs to pull back to the .618 Fibonacci level. Fine, bulls, you are in an uptrend, but enough of the parabolic move—let the ticker breathe.
Conclusion - Being below the CheatCode Swing 0 line favors the bear case to provide support in a commonly targeted area of Fibonacci retracement, yet looking at the CheatCode Squeeze momentum indicates a potential continuation of the bullish trend. This could leas to chop and indecision.
Bullish above $125.39
Bearish below $107.35
