Advanced Micro Devices Inc. (NASDAQ:AMD) shares ticked higher Thursday after a report came out that the company is ready to make ARM chips.
AMD closed up 0.59% at $106.22. The stock looks to be trading in a technical pattern and could be ready for a big move soon.
Bullish traders are looking to see the stock break above pattern resistance on above-average volume and push higher. Bulls are then looking for a nice upward move and some consolidation while the stock holds its gains.
Bearish traders are looking to see the stock drop out of the bottom of the pattern and start pushing lower. Bears are also looking to see the stock cross below the moving averages for a possible change in sentiment.
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