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The Rise Of Tech & AI – A Look Into Nvidia’s Main Competitor AMD – Technical Analysis & Comparison

Hello Traders,

In this article we will have a look into Nvidia’s main competitor AMD ( Advanced Micro Services Inc.) analyze the longer term cycles and see what is the commonalities found between the 2 in terms of their market trends and stock market shifts. Firstly, AMD is an American multinational corporation and fabless semiconductor company based in Santa Clara, California, that designs, develops and sells computer processors and related technologies for business and consumer markets. AMD’s main products include microprocessors, motherboard chipsets, embedded processors, and graphics processors for servers, workstations, personal computers, and embedded system applications. The company has also expanded into new markets, such as the data center, gaming, and high-performance computing markets.

We have seen overall the tech stocks significantly rising over the past decade with more technological advancements and the introduction and development of AI (artificial intelligence) which has already been implement in various sectors and businesses. The advancement has been noticeable as well in the stock market with tech giants such as Nvidia, Microsoft, Apple on the rise and AMD is not different. Let’s analyze to see what the chart of AMD and technical analysis is telling us at this stage.

* You can trade AMD & other shares through our MT5 platform (available on all devices) https://www.oneroyal.com/en/trading-platform/mt5-pc

AMD Weekly Timeframe – Bigger Cycle from October 2022 Remains Intact – A Potential Breakout Can Lead Towards The Fibonacci Extensions

As far as the lows from August 2024 around the $122 area remain intact and a breakout takes place first targets potentially might be the 1.236 – 1.618 Fib Extensions $252.16 – $291.95 – While in case of an extreme bullish scenario the 2.618 Fib extension up to $396.11 would not surprise the buyers

AMD Stock Market Analysis

 

AMD VS NVIDIA (Nvidia had a 1:10 share split 07.06.2024) – Similarities between the 2 and their cycles can be seen

AMD VS NVIDIA

 

As we can see AMD is overall trading in the same trajectory as Nvidia, while Nvidia has reached the $1200 before the 1:10 shares split on June the 7th 2024. The question here will be whether AMD can hold the lows from August 2024 and breakout looking for the targets mentioned above. Important to note that AMD hasn’t done any shares split as of yet. We typically see companies doing shares split once their share price reaches significant milestones such as what we have witnessed with Nvidia as well as with the first Tesla stock split back in August 2020. In the scenario of a breakout it should be interesting to see whether AMD can outrun Nvidia but as per their correlation both of them might potentially see further upside in such scenario.

* You can trade AMD & other shares through our MT5 platform (available on all devices) https://www.oneroyal.com/en/trading-platform/mt5-pc

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Risk Disclaimer: The information provided on this page, including market analysis, forecasts, and opinions, is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any financial instruments. Investing in financial instruments involves significant risk, including the potential loss of the principal amount invested. Leveraged products, such as CFDs and forex, carry a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The firm does not guarantee the accuracy or completeness of the information provided and shall not be liable for any losses or damages arising from reliance on this content. By using this page, you acknowledge and accept these risks.

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