Verified Investing on $AMD (Nov 9, 2026)
AMD's 13.2% rise put it back above its downtrend line, and the speaker, who moved from Nvidia into AMD, expects the short-term rally to continue toward the upward trend line above $550; the $555-$566 gap area is where the rally stops and sellers take profits, making that upward trend line the next resistance.
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I left Nvidia and moved towards AMD. Look at this 13.2% rise in AMD stock today. This move alone brought it back above the downtrend line. But note, as with the SMH and S&P 500, this was just a one-candle dip.
It was a sharp drop, but we did not see additional selling pressure the following day, which allowed the stock to return above the trend line more easily, as we saw with AMD today.
So, where will this lead us? Now, we may head straight towards the upward trend line on the chart above $550. Note the price gap at $566. Therefore, the area between $555 and $566 is where this short-term rally stops and sellers start taking profits.
The reason is, note the break of the upward trend line. We sold and then we rose. This makes the resistance of the upward trend line completely different from the downward trend line where we sold and did not see any rise.
Therefore, we were able to quickly rise above that area, making the upward trend line the next target of resistance on the AMD chart.
What this channel has said about $AMD
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