AMD Builds Momentum in AI — Chart Signals More Upside Ahead

by MarketNewsData

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.

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