Could Micro Devices (AMD stock) move above the $96 range?

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Today’s instrument is the Advanced Micro Devices Inc. ‘s stock traded in Nasdaq exchange under the ticker AMD.

When we look at the AMD ‘s chart, we can see its steady rise from the $85 range on the 27th of April to the high of $92 on the 30th of April, the return to the $85 on the 3rd of May and again the climb to the $92 range during yesterday’s session, closing strongly in the $91 range. It was last found trading at the $91.13, having overhead resistance at the $92 range.

Advanced Micro Devices Inc. had scheduled quarterly earnings announcement yesterday 03/05/2022, in afterhours session. Both EPS and Revenue exceeded expectations, beating the Q1 estimates.

Today we can expect a move above the $92 closest resistance level, possibly in the $96 range.

If however, it doesn’t manage to hold on to the current level then a move towards and below the $85 closest support level can be expected.