Watch These AMD Price Levels as Stock Jumps to Highest Level Since January

Advanced Micro Devices (AMD) shares will likely remain in focus after hitting their highest level since January on Monday, lifted by optimism that trade discussions between the U.S. and China could lead to reduced export curbs.

Chipmakers rallied after White House National Economic Council Director Kevin Hassett said on CNBC early Monday that officials from Washington and Beijing intended to discuss the release of rare earth minerals to the U.S. and the expansion of Chinese access to American-made semiconductors during talks between the two countries taking place in London this week.

In April, AMD cautioned its results would be affected by charges of roughly $800 million related to tightening restrictions on sales of its chips to China, while rival AI behemoth (NVDIA) warned it would take a potential $5.5 billion charge related to limits on exports of its H20 chip.

AMD shares gained nearly 5% on Monday to close at around $122. The stock has risen nearly 60% from its early April-low, putting it back to where it started 2025, as investors assess whether the company can make further inroads into the booming AI chip market.

Investors will learn more about AMD’s plans for artificial intelligence at the company’s “Advancing AI” event on Thursday, which features a keynote address from CEO Lisa Su.

Below, we take a closer look at AMD’s chart and use technical analysis to identify major price levels that investors will likely be monitoring.

200-Day Moving Average in Focus

After breaking out from a descending broadening formation last month, AMD shares have traded mostly sideways just below the closely watched 200-day moving average (MA).

More recently, the stock’s price has nudged toward the May high, a move that has coincided with the relative strength index indicating strengthening price momentum. It’s also worth pointing out that the shares registered their highest trading volume in nearly a month on Monday, indicating growing interest in the chipmaker’s stock.

Let’s identify three major overhead areas on AMD’s chart to monitor if the shares continue to trend higher and also locate a key support level worth watching during possible retracements.

Major Overhead Areas to Monitor

The first overhead area to monitor sits around $123. This area may provide resistance near the May swing high, which also closely aligns with last year’s prominent early-August sell-off swing low.

A decisive close above the 200-day MA could spark a rally toward $145. The shares may run into selling pressure in this location near a trendline that connects a range of corresponding trading activity on the chart between April and December last year.

Further buying could see the stock’s price test higher overhead resistance around $175. Investors who have accumulated shares at lower levels may decide to lock in profits in this region near notable peaks that developed on the chart in May and October 2024.

Key Support Level Worth Watching

During retracements in the stock, investors should keep a close eye on the $108 level. This area on the chart would likely attract buying interest near last month’s pullback low and the stock’s early-February trough.

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