AMD Stock Hits Record High with Unprecedented 12-Day Rally
- Stock Surge: AMD shares climbed approximately 4% on Thursday, closing at $268.66 and reaching an intraday high of $270.12, marking the longest 12-day rally since 2005 with a cumulative gain of about 37%.
- Improved Market Conditions: Optimism surrounding potential diplomatic progress between the U.S. and Iran has elevated risk appetite in tech stocks, benefiting AMD, which has appreciated approximately 40% since its year-to-date low.
- Analyst Optimism: Wall Street analysts have grown increasingly confident in AMD's upcoming May 5 earnings report, with some price targets raised to $365, reflecting expectations for its collaboration with Meta and the launch of AI accelerators.
- Strong Technical Indicators: AMD's stock has broken above key moving averages, indicating a robust upward trend according to technical analysts, although the Relative Strength Index has entered overbought territory, the MACD continues to show positive momentum expansion.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for OP
Technical Sentiment Analysis for Optimism (OP). As of , Optimism (OP) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 5 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for OP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, OP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Optimism (OP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0774 | 0.0914 | 0.104 | 0.118 | 0.13 | 0.144 | 0.156 |
| Fibonacci | 0.0914 | 0.101 | 0.108 | 0.118 | 0.128 | 0.134 | 0.144 |
About OP
About the author
