Watch These AMD Price Levels as Stock Jumps After AI-Related Acquisition
AMDAMD(AMD) Investopedia·2024-08-20 11:00

Key TakeawaysAdvanced Micro Devices jumped Monday on news the chipmaker beefed up its AI portfolio with a 4.9billionpurchaseofdatacenterinfrastructureproviderZTsystems.AMDshareshaverecentlytrendedhigherfromthelowertrendlineofadescendingchannel,thoughtradingvolumeshaveremainedbelowaveragethroughoutthemajorityofthemove,indicatingalackofconvictionbylargermarketparticipants.AMDsharesmayfindsupportatkeychartlevelsincluding4.9 billion purchase of data center infrastructure provider ZT systems.AMD shares have recently trended higher from the lower trendline of a descending channel, though trading volumes have remained below-average throughout the majority of the move, indicating a lack of conviction by larger market participants.AMD shares may find support at key chart levels including 150 and $122, but encounter resista ...