Market Overview

Advanced Micro Devices Continues To Rally


Advanced Micro Devices, Inc. (NASDAQ: AMD) shares are trading higher by $0.81 (6.4 percent) at $12.84 in Wednesday's session.

This extends its two-day rally that has taken the stock from its June 2 close ($10.90) to as high as $12.96 earlier in today's session.

After making a series of lows in the upper $10.00 handle, AMD began to tick higher Monday when its Radeon Vega Graphics card was mentioned at Apple Inc.'s (NASDAQ: AAPL) WWDC -- it will be used in its latest iMac Pro. For the day, it posted a modest $0.27 gain.

However, AMD added another $0.79 in Tuesday's session to close at $12.03 and came within pennies of the $13.00 handle just after 10:30 a.m. EST. In order to fill the void in price, when the stock was slapped with a Sell rating by Goldman Sachs on May 2, it would need to reach its low from May 1 at $13.25.

Posted-In: Technicals Intraday Update Movers Trading Ideas


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