The technical chart of Advanced Micro Devices (AMD) suggests that the share price may rebound soon after being range-bound since June 2019.

1. The bullish hammer candlestick pattern managed to close above the 88.6% retracement level from 35.38-27.65 and 200SMA. In addition, Friday’s candlestick managed to stay above the 88.6% and high of the hammer.
2. There is a potential double bottom formation with the bullish hammer rejecting the support level at 27.61.
3. There is a falling wedge formation, which signals a potential bullish movement upwards.
4. The %K and %D lines crossed in the oversold region of the stochastic oscillator.

CHART LEGENDS

Moving Averages

Red dotted line = 200 SMA

Blue dotted line = 50 SMA

Green dotted line = 22 SMA