Published on 25 Jan 2022 on Zacks via Yahoo Finance
Here's Why Advanced Micro (AMD) Could be Great Choice for a Bottom Fisher
A downtrend has been apparent in Advanced Micro Devices (AMD) lately. While the stock has lost 14.9% over the past week, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support.
While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future earnings of this chipmaker is a solid fundamental factor that enhances the prospects of a trend reversal for the stock.
