No Follow Through Rally In Advanced Micro Devices

Advanced Micro Devices (NYSE: AMD) shares are trading lower by $0.54 or 14 percent at $3.46 in Monday's session. The issue has not been able to follow through on is monster gain from Friday ($2.62 to $3.99) following a better than expected Q1 report and raised guidance.After closing on its high for the day $3,99) on huge volume, momentum traders were anticipating a blast though the $4 level. However, with the issue coming near the $4 handle for the first time since September 2014, when it peaked at $4,25), was too tempting for investors looking to take some profit.After lower open, it could only tick higher by one penny to $3,82, before continuing its moves lower. It has continued to make new lows for day, with the current low standing at $3.42. If the continues, the next identifiable support level based on the dally charts, comes in at Friday's low of $3.18.