AMD may continue to rally | Market Outlook 06/Feb/ 2024
After reaching the 180 price area, and retracing back to the breakout level, AMD stock may continue to rally towards a target area of 200-210, if it shows any reaction between 165 and 170. Sentiment for chip stocks is bullish, and AMD is the strongest stock in a group, having the most positive EPS guidance. There are no important publications in the economic calendar scheduled for this week, so it's worth monitoring earnings releases of large US companies, such as LLY, DIS and others.
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