AMD Stock Is In Blue Sky Territory — Charts Say Don't Chase It

Advanced Micro Devices Inc. (NASDAQ:AMD) traded near $278 on Friday, parked right at a fresh 52-week high of $279.50 and capping a vertical run that’s added more than 30% year-to-date.

After Thursday’s $278.26 close, a new all-time high, the chart is squarely in blue sky territory, with no overhead price memory to act as resistance.

But the same indicators driving the breakout are flashing late-stage warnings.

AMD stock is near all-time highs. See the price action here.

Textbook Bullish, and Stretched

Price is stacked well above every major moving average in textbook bullish alignment (20-day > 50-day > 200-day SMA), and the stock is trading roughly 37% above its 200-day line, an extended reading by any measure.

The chart below shows the one-month price action with moving averages for AMD stock:

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AMD Stock Is In Blue Sky Territory — Charts Say Don't Chase It

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