Some closely watched momentum indicators and a bullish overall chart suggest popular AI chipmaker Advanced Micro Devices is headed for new highs in the near future. The stock hit a new 52-week high and now sits 3.6% below the stock's all-time high of $164.46 set in the fourth quarter of 2021. Many chart analysts expect the stock to blow past that level in the near future. "Anytime a stock makes a new all-time high, it tells me something special is taking place with the company," said JC O'Hara, chief technical strategist at Roth Capital Partners. "Investors should be positioned in these risk stocks that typically outperform in a rising market environment and AMD checks that box," he said.

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Persons: Dan Wantrobski, Janney Montgomery Scott, JC O'Hara, Wantrobski, Capital's Todd Gordon, Oppenheimer's Ari Wald Organizations: Devices, AMD, Roth Capital Partners, Nasdaq