Foreign media commentators noted that AMD's stock price was under significant short-term pressure after a 6.5% intraday drop on June 5th. This decline was related to the overall weakness in the semiconductor sector, as the market simultaneously digested concerns stemming from Broadcom's earnings report and stronger-than-expected US employment data. AMD closed at $466.38 that day, essentially erasing the gains of the previous few days.
The daily chart remains at a high level.
The article argues that, from a longer-term perspective, AMD remains in a relatively strong position, with its stock price still above its 50-day and 200-day moving averages. However, the stock price has fallen below the 20-day moving average, indicating a change in the upward momentum previously supported by short-term moving averages.
Meanwhile, daily momentum indicators are beginning to weaken. The Relative Strength Index (RSI) remains above the midline, but has fallen from previous levels; the MACD also shows signs of weakening, indicating a decrease in buying pressure compared to the previous period. Based on this, the report concludes that AMD's medium-term structure has not been completely broken, but the difficulty of further upward movement in the short term is increasing.
The $451 level is attracting attention.
Shorter timeframe charts show even weaker performance. The article states that AMD has clearly broken below multiple short-term moving averages on the hourly chart and is rapidly approaching a longer-term support area, indicating that selling pressure was concentrated during the trading session.
The report noted that the key intraday trading range is between $462 and $478. If the stock price fails to return above this range, the market may continue to test lower support levels. The article specifically mentioned that the area around $451 is currently a significant level; a breach of this level could lead to a further pullback.
- The closing price was $466.38.
- The key intraday range is between $462 and $478.
- The current support level to watch is around $451.
The rebound still needs to repair the short-term structure.
The article also retains the possibility of a rebound. Its rationale is that AMD's daily trend has not yet fully turned bearish, and this decline occurred more within the context of a general adjustment in the semiconductor sector than due to a sudden change in the company's fundamentals. Another supporting factor is that Barclays recently raised its target price for AMD, citing reasons including AI infrastructure development and improved CPU demand.
However, the report suggests that for a confirmed recovery, AMD needs to first regain its 20-day moving average and return to above its key intraday consolidation level. If short-term momentum continues to deteriorate, market pressure to repric in its valuation may increase, especially given strong employment data and high interest rate expectations.
Overall, this commentary summarizes AMD's current situation as "the medium-term trend remains intact, but the short-term trend has clearly weakened." Whether the stock price can stabilize within the key range in the next few trading days will determine whether this decline is a temporary pullback or the beginning of a deeper correction.
