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Aug 2 at 10:30 PM
After this gap-up rally on Friday, market sentiment is a bit overheated. Earnings are just a few days away, so don't rush to chase the highs right now; keep an eye on the key level of $450.
If $AMD(AMD.US) breaks below $450 and fails to reclaim it, a short-term reversal may occur, further opening up downside space.
The market often trades expectations ahead of earnings reports, but it's ultimately the performance and guidance that will determine the direction. Next, we'll focus on whether AMD can hold the $450 defense line.
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