Market Overview

Advanced Micro Devices Backs Off $14.00 Resistance Area And Rebounds

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Advanced Micro Devices, Inc. (NASDAQ: AMD) shares are trading lower by $0.25 (1.6 percent) at $13.45 in Monday's session. Most likely, the issue is following the broad market lower.

Over its three previous sessions, the stock has found resistance in a narrow area. After peaking Wednesday at $14.15 and Thursday at $14.11, it peaked Friday at $14.18 and ended that session at $13.70.

After a lower open, AMD continued in that direction until it bottomed at $13.21 and began to rebound. That level comes in just ahead of the pair of lows from March 8 ($13.10) and March 9 ($13.11). Since making that low, it has continued to make new highs for the session, with the current one standing at $13.65.

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