Why You Should Steer Clear of Tumbling AMD
Chartist Marc Chaikin sees lots of trouble ahead for the chip giant.
Famed chartist Mark Chaikin says there are multiple signs that struggling Advanced Micro Devices (AMD) - Get Report is one stock that investors should avoid.
"This isn't Jim Cramer pushing the stock down. This is bad fundamentals," Chaikin, CEO of Chaikin Analytics, said at TheStreet's Financial Success Strategies symposium in New York over with weekend. "[AMD] has gotten nowhere for the last several months. It's still bearish."
AMD has been plunging ever since the chipmaker reported its fiscal third-quarter earnings on Oct. 24. The stock has fallen more than 20% in the past five days and closed at $10.89 on Monday, down some 8% on the day.
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This article was written by a staff member of TheStreet.
