The NASDAQ index is holding onto its gains with a 51.87 point rise or 0.25%. At session highs the index was up 93.86 points. At the lows it was up 13.80 points.
Nvidia and AMD are moving higher with Nvidia up 1.14%. Broadcom shares are also higher by -0.94%. SMCI which builds boxes for Nvidia chips are up 7.64%.
Looking at AMD's stock price, it moved down 65% from the 2024 high price. Since then, the price is up 128%. That is still way off the high price from 2024 at $227. Looking at the daily chart, the high price today tested the high price going back to October 2024 which peaked at $174.05. Getting and staying above that level will be key for the shares going forward.
Currently, the price is well above the 100-hour MA and is testing the $174 target, suggesting near-term overbought conditions. A period of consolidation may follow - if the price can stay below the $174 area.
However, for sellers to gain meaningful control, the price would need to break below the rising 100-hour MA and stay below it. Until then, buyers remain in charge.
This article was written by Greg Michalowski at investinglive.com.Hence then, the article about s p index up marginally lower chipmakers including amd higher was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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