Advanced Micro Devices

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Nearest Resistance: $4

Nearest Support: N/A

Catalyst: H-P Sympathy Trade

Advanced Micro Devices ( AMD) is seeing a similar fate today, shoved lower by the HP earnings release and a big technical break in shares. AMD had been looking promising for the last few weeks, forming the early stages of a tower bottom -- a bullish reversal pattern that shareholders were desperate for.

But the pattern never triggered. Instead, AMD fell through $4 support for the last two straight weeks, making a new 52-week low today.

To be sure, the chip business isn't in the some straits as the PC-making business. That said, until AMD can catch a bid, I'd recommend staying away from this stock.

To see these stocks in action, check out the at Most-Active Stocks portfolio on Stockpickr.

-- Written by Jonas Elmerraji in Baltimore.


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At the time of publication, author had no positions in stocks mentioned.

Jonas Elmerraji is the editor and portfolio manager of the Rhino Stock Report, a free investment advisory that returned 15% in 2008. He is a contributor to numerous financial outlets, including Forbes and Investopedia, and has been featured in Investor's Business Daily, in Consumer's Digest and on

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