AMD Builds Momentum in AI — Chart Signals More Upside Ahead
Advanced Micro Devices (AMD) is gaining serious ground in the AI chip market. In Q1 2025, Data Center revenue surged 57% year-over-year to $3.67 billion, powered by growing demand for EPYC CPUs and Instinct GPUs. The stock has climbed 60% over the past three months, with support from institutional buying—including ARK Invest—and a wave of bullish analyst upgrades.
🔧 Technical Setup
AMD is in a confirmed uptrend. At $146.42, the stock is trading well above both the 50-day ($120.53) and 200-day ($123.59) simple moving averages. A golden cross, which occurred weeks ago, further supports the bullish outlook.
🔁 Fibonacci Levels
Fibonacci retracement (from $76.48 low to $185.50 high) highlights key technical levels:
- The stock is holding above the 38.2% retracement level at $139.81, acting as solid support.
- It remains below the 23.6% retracement at $158.46, which is the next key resistance.
Support Levels:
- $139.81
- $130.99 (50%)
- $122.17 (61.8%)
Resistance Levels:
- $158.46
- $170.00
- $185.50
📉 Momentum and Volume
- RSI stands at 70.48, indicating overbought conditions. A short-term pullback or consolidation wouldn’t be surprising.
- Volume is strong at ~50 million, confirming conviction behind recent gains.
- No reversal patterns have formed, and prior consolidation between $140–$145 could provide a base if retested.
🧭 Key Takeaways
- Bullish trend remains intact as long as the stock holds above $139.81.
- Watch for a breakout above $158.46 to target $170 and eventually $185.50.
- A drop below $139.81 opens downside risk to $131 and $122.
- RSI signals potential for near-term pause, but volume supports long-term strength.
📅 Analyst Upgrade Timeline
- June 23 – Melius: Buy, target $175
- July 6 – Mizuho: Buy, target $152
- July 7 – Citigroup: Neutral, raised target to $145
- July 10 – Piper Sandler: Overweight, target $144.05
- July 10 – Wolfe Research: Outperform, target $144.05
- July 10 – HSBC: Buy (from Reduce), raised target from $144.08 to $200
- July 10 – Goldman Sachs: Neutral, initiated at $140
- July 11 – TD Cowen: Buy, target $165
Bottom Line:
AMD is technically strong, fundamentally supported, and riding a major AI wave. A break above $158.46 would confirm further upside, while $139.81 remains a must-hold level for bulls.