Advanced Micro Devices (AMD) released impressive Q2 results after the market closed yesterday:
→ Earnings per share stood at $0.48, matching expectations
→ Revenue reached $7.68 billion, exceeding forecasts of $7.41 billion
CEO Lisa Su expressed optimism about future growth, stating, “We’re well positioned to deliver significant growth in the second half.”
Nevertheless, AMD shares declined in after-hours trading, falling below $165.
This decline may indicate high pre-earnings expectations and an overbought stock leading up to the announcement.
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Technical Analysis: AMD Stock
Since April 2025, AMD has been trading within an ascending channel (blue). In July:
→ The price broke above the upper boundary of the channel (purple),
→ The RSI remained above 50, suggesting ongoing bullish momentum.
Investors may have expected AMD to replicate Nvidia’s (NVDA) recent AI-driven gains. However, the results did not meet those high expectations—likely a classic case of “buy the rumor, sell the fact.”
A bearish gap is anticipated at today’s open, indicating a return to the channel range. Key technical support is positioned:
→ Along the channel’s midline and lower boundary,
→ Near the $150 psychological level.
This may indicate a healthy correction. If optimism stabilizes, bulls may seek to reignite the rally, backed by AMD’s strong fundamentals.
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