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Technical analysis for AMD, the shares are within their fifth bullish wave on the monthly chart. AMD shares reached the second target of the bullish wave, the 100 FIB extension at 155$. The shares went as high as 164$ and started a pullback, the first target for this pullback, the 0.386 FIB retracement at 130$, is reached. A break below the 130$ will open the door for further declines toward the 0.618 FIB retracement at 107$.
On the bullish side, if the shares of AMD break above the previous high at 164$, that will resume the bullish wave. The third target of the bullish wave is the 1.272 FIB extension at 178-180$. The fourth target is the 1.618 FIB extension at 205-210$.
Monthly chart:
