Below is a technical comparison of the two charts to see which may be the better buy.
AMD Daily Chart Analysis: The chart above shows the stock trading within a channel nearing the bottom of support.
The chart is showing a potential support level near the $75 mark. This is an area the stock has been able to find support before and may again in the future.
The top of the channel is near the $90 level. This area has held as resistance in the past before and briefly held as support before falling back below. The area may hold as resistance in the future.
Nvidia Daily Chart Analysis: The chart above shows the chart looked to be trading within a channel and now may be breaking out.
The channel looks to have shown previous support near the $500 mark as this was a place where the stock has struggled to break below.
The chart shows that $590 has previously held as resistance as the stock has struggled to cross above this area. Now, as the price is higher bullish traders would like to see this level hold as support.
The Better Buy? Both charts are nearing areas where bullish traders may like to buy. It’s up to traders themselves to decide to buy, but key areas are a place to check out.
With AMD, bullish traders would like to see the stock bounce at the support level and start moving up before potentially buying.
The Nvidia chart may have broken out of resistance, so bullish traders would like to see this resistance now hold as support. With some consolidation above the resistance level, the stock may be able to see higher moves in the future.
© 2021 Fintech Zoom.com. Fintech Zoom does not provide investment advice. All rights reserved.