AMD Price Forecast: Double-Bottom Breakout Targets $659

Advanced Micro Devices (AMD) completed a bullish double-bottom breakout after closing the week at $559.62, representing a 10-week closing high. The technical breakout was confirmed after the stock pushed above the eight-week consolidation range resistance level of $530.13. The advance followed a brief dip to a higher swing low of $480.33, where buyers aggressively stepped in around key moving average support. Technically, AMD has reclaimed both its 20-day and 50-day moving averages, signaling strengthening upside momentum with a potential bullish moving average crossover emerging. The double-bottom pattern began forming after a mild 38.2% Fibonacci retracement from the June peak of $584.73, printing dual bottoms at $424.03 and $440.50. From a forecasting perspective, the pattern projection sets an initial upside measuring objective near $659. Intermediate and extended Fibonacci targets lie at $628.50 (127.2% extension) and $684 (161.8% extension). Crucial support remains at the recent low of $480.33 and the 50-day moving average at $495.56, maintaining the bullish trend outlook as long as these levels hold.