Key takeout
It rose again on Wednesday amid optimism about the company’s plans to resume exports of MI308 chips to China after receiving final approval from US authorities.
The U.S. Department of Commerce reports that it has notified the company that it will re-check its license application to exceed AMD shares sent in China by more than 6%. The shares won an additional 3% on Wednesday, closing at around $160, the highest level since late October.
Rival chip giant Nvidia (NVDA) announced late Monday that it plans to resume exports of H20 chips to China after receiving guarantees from the Trump administration that restrictions imposed in April will be lifted. AMD previously expected to face up to $800 million in fees related to exporting MI308 chips, but Nvidia had expected the curb to cost $5.5 billion.
AMD stocks have more than doubled since their annual low in early April. So far in 2025, the stock price has risen 33%, surpassing Nvidia’s 28% profit since the start of the year.
Below we take a closer look at AMD’s charts, apply technical analysis, and point out the price levels investors are looking at.
Golden Cross has been formed
AMD will post stocks above the formation of a tight rectangle during Tuesday trading session, laying the foundation for ongoing movement.
Importantly, the breakout occurred at the highest volume since mid-June, suggesting that it will buy convictions from larger market participants. Additionally, the relative strength index checks bullish momentum, but the reading takes place beyond the indicator’s 70 threshold, causing excessive conditions to flash.
It is also worth noting that the 50-day moving average formed a golden cross above the 200-day MA on Wednesday, marking a chart signal indicating a high new trend.
Identify two key overhead areas to monitor whether Momentum continues to build on AMD stocks, and find the level of support that is worth monitoring during potential retracements of inventory.
Important overhead areas to watch
The initial overhead area of viewing is around $187. This area on the chart could provide resistance near the peak of January 2024 and counter trend highs last July. This location also roughly matches the measured travel price target, which calculates the distance of the trends of stocks ahead of the rectangle and adds that amount to the top trend line of the formation.
Successfully surpassing this area could promote gatherings towards $215. Tactical traders may be aiming closely at this level as they are just below last year’s highs.
Important level of support worthy of monitoring
During retrace, investors will first need to monitor the $148 level. Investors who avoid chasing breakouts can look for purchase opportunities at this location near the top of the rectangular formation.
Finally, deeper pullbacks in AMD stocks can lower prices around $123. This area on the chart finds trendlines connecting support confluences near the main moving averages and a series of corresponding trading activities that grow from November to June 2023.
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