Is AMD Stock Prepping for Pre-Earnings Rally After Retesting This Support Level?

AMD and NVIDIA GeForce stickers are seen on a laptop in this illustration taken on Dec. 1, 2021. Dado Ruvic/Illustration/Reuters

Advanced Micro Devices Inc. stock, one of the star tech performers of recent years, is stuck in a year-to-date rut.

The lackluster phase comes despite the company continuing to do well fundamentally.

AMD Lags Tech Recovery

Ever since peaking at $164.46 on November 30, AMD stock has traced a broader downtrend marked by intermittent rallies and pullbacks. It has failed to gather enough momentum to challenge the November peak.