Advanced Micro Devices $AMD stock confirmed a Resurrection CrossWhen the 50 day moving average crosses above the 200 day moving average, it is called a Resurrection Cross. Conversely, when the 50 day moving average crosses below the 200 day mov... on March 17, 2023. The stock has been trading within an uptrend channelUptrend and downtrend channel patterns are technical analysis tools used to identify potential future price movements. They are formed by two parallel lines on a chart and can be u... since November 2022.
Investors may be buying up tech stocks in the hope that the Federal Reserve will postpone its rate hike program, which would help growth stocks. This scenario is supported by the current banking chaos.
When the Fed meets March 21–22, market pricing is leaning toward no rate increase.
AMD price target raised at TD Cowen
AMD’s price target was increased by TD Cowen to $120 from $100 while the stock continues to be rated as Outperform. According to the analyst, the company’s undervalued position will be better reflected in the stock valuation as it better explains its AI growth strategy.