AMD tries to vent off oversold saturation - Analysis - 01-04-2021

AMD's stock rallied 3.29% in the last session while venting off oversold saturation in the RSI, amid the dominance of the downward short-term correctional wave, while hurt by piercing the upside trend line recently, with positive pressure from the 50-day SMA.

Therefore we expect the stock to return lower, targeting the pivotal support of 73.83, provided the resistance of 84.60 holds on.

Expected trend for today: Bearish