Stock Of The Day: Where Will The Advanced Micro Devices Rally End?
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Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) surged over 28.69% to $211.92 following a partnership announcement with OpenAI. However, analysts suggest the rally may pause or reverse as the stock approaches resistance levels at $227, the all-time high from March 2024. Historical trends indicate that stocks often face selling pressure at previous peaks, which could lead to a price decline if enough sellers undercut each other. Advanced Micro is currently identified as the Stock of the Day due to these dynamics.
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Source: Benzinga The copyright of this article belongs to the original author/organization.
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