AMD Jumps 5.86% as Jensen Huang Exits Nvidia; $585 Is the Test

Advanced Micro Devices closed up 5.86% on Thursday after Nvidia announced that Jensen Huang resigned as CEO, president, and director, effective immediately. The stock trades near $585 and now faces a technical decision point that, according to the analysis, could open the path to $640 and the all-time high zone near $660.

Nvidia disclosed the resignation before the open, citing reports about Huang's personal conduct and a suspected Chinese intelligence link, according to the analysis published on TradingView by inkicho_exness. CFO Colette Kress, who has held the finance post since 2013, becomes interim CEO. Nvidia fell as much as 14% intraday before closing down 4.34%.

Where did the money go?

AMD and Broadcom led the S&P 500 on the day, with Broadcom adding 5.54% even as the Nasdaq closed roughly 0.4% lower. The read from the analyst is direct: a CEO search launched just days before Nvidia's November 17 earnings report gives large buyers a reason to hedge their chip supply.

"My read: the market is trading this as supplier diversification, not as an AMD earnings story," the analyst wrote.

Two facts anchor that thesis. AMD says demand already exceeds its supply. Broadcom's AI semiconductor revenue rose 221% year over year to $16.7 billion in its latest fiscal quarter.

The caveat follows the promise. The analyst warns that a steady handover could give back some of AMD's gains, because Kress has run Nvidia's finances since 2013 and the company's chip roadmap is already public. AMD has also moved sharply in about a week.

What does the chart show?

AMD peaked near $660 in early October, then slid inside a descending channel to roughly $403 in early November — a drop of about 39%, nearly two-fifths of the stock's value in a month. The current price near $585 sits roughly 45% above that low.

The rebound broke above the channel's upper line near $522. Momentum indicators split the picture. The 21 exponential moving average at 520.43 remains below the 78 EMA at 534.72, so the bearish crossover has not yet reversed, though price trades above both. The RSI at 63.51 is bullish while staying below overbought territory.

What are the scenarios?

The analyst frames the levels as conditions, not recommendations:

• Base case: a four-hour close above $585 targets $640, then the $660 all-time high zone.
• Pullback case: a retest of $530 that holds — supported by the slow EMA, the $525.50 level, and the broken channel line — keeps the breakout valid.
• Invalidation: a four-hour close below $530 kills the bullish view entirely.

Key resistance sits at $585, $640, and $660. Support stands at $530, $520 (the fast EMA and channel line), and $425.

What happens next?

The stated time horizon is one to two weeks, with Nvidia's November 17 earnings report as the decisive event. The market has already repriced AMD by nearly six percent in a single session on a competitor's governance crisis, and the analyst's own framing concedes the move may prove temporary if Nvidia's transition looks orderly.