Can AMD hold $600 as technical risks and macro pressure build?

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Mykhailo Ihnatenko

29.09.2026

Can AMD hold $600 as technical risks and macro pressure build? — AMD faces a key support test after its record rally begins to cool

After a rapid advance, AMD is facing its first more serious test of whether the current momentum can hold. The next few sessions should show whether the newly reached support level can provide a base for another move higher or whether the correction has further to run.

AMD price prediction

24H -1.91%

$496.72

48H -3.03%

$491.03

7D -2.97%

$491.33

1M -20.6%

$402.09

3M -31.68%

$345.98

6M -35.72%

$325.53

12M 64.73%

$834.2

Detailed

Current price: $506.39 -60.0300 10.60%

Closed 10/30

Daily range 492.49

519.58

Weekly range 492.49

578.75

AMD has announced the acquisition of AI startup World Labs, founded by prominent researcher Fei-Fei Li, in an all-stock deal valued at about $8.2 billion. The company plans to use World Labs’ expertise in spatial intelligence and physical AI to support the development of future AI systems, software and hardware infrastructure. The transaction is expected to close by the end of 2026.

The bond market, however, is adding pressure. On the morning of September 29, the 10-year U.S. Treasury yield was holding near 5.25%, still close to multi-year highs, while the 30-year yield stood around 5.56%. Elevated rates are particularly important for richly valued technology companies because they raise the discount rate applied to future cash flows and reduce the relative appeal of equities versus bonds.

Break below $600 could extend correction toward $586

The scenario outlined earlier has now played out in full. After reaching an all-time high, AMD shares entered a local correction and reached the $600 target.

That level will be critical in today’s session. A sustained move below it could extend the correction toward support at $586.

It is also worth noting that on September 25, AMD was trading roughly 73% above its 200-day SMA. Historically, readings around this magnitude have preceded deep corrections in AMD shares of at least 25% from a local peak.

RSI (14) is another source of concern. The indicator remains close to overbought territory, while a clear bearish divergence has also developed.

Still, opening short positions near an all-time high carries substantial risk. Any medium-term bearish position therefore requires confirmation before the setup becomes actionable.

A breakout above the all-time high at $639 would invalidate the downside scenario. In that case, the target would shift toward the psychological resistance level at $650.

U.S. jobs report could amplify AMD volatility

Another source of risk will be the U.S. labor market report. On Friday, October 2, the Bureau of Labor Statistics will release the September Employment Situation report, including nonfarm payrolls and the unemployment rate.

A strong labor market could reinforce expectations for tighter Fed policy and keep upward pressure on Treasury yields, which would potentially weigh on technology stocks. Weaker data, by contrast, could ease some of the pressure coming from rates.

That makes higher volatility a key risk heading into the end of the week.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.