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Benzinga
Benzinga
Business
Melanie Schaffer

AMD Plunges, But Here's Why The Pullback Could Offer Opportunity

AMD Advanced Micro Devices Nasdaq

Advanced Micro Devices (NASDAQ:AMD) was plunging 8% on Thursday, negating the uptrend the stock began trading in on March 8 when it bounced off the $100 level.

The uptrend may not be the dominant pattern, however, and the downturn on Thursday could serve as a backtest and confirmation of a bullish break from a descending trendline.

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