Advanced Micro Devices Stock Forecast
Advanced Micro Devices stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Mar 27, 2024)
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $178.68 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 28.61% during the next 3 months and, with a 90% probability hold a price between $229.81 and $286.49 at the end of this 3-month period.
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AMD Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Advanced Micro Devices stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $184.57. On a fall, the stock will find some support from the short-term average at $179.37. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -15.04%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Advanced Micro Devices stock
Advanced Micro Devices finds support from accumulated volume at $174.23 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $5.83 between high and low, or 3.32%. For the last week, the stock has had daily average volatility of 4.41%.
Advanced Micro Devices is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AMD) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Advanced Micro Devices to open at $178.74, and during the day (based on 14 day Average True Range), to move between $170.74 and $188.44, which gives a possible trading interval of +/-$8.85 (+/-4.93%) up or down from last closing price. If Advanced Micro Devices takes out the full calculated possible swing range there will be an estimated 9.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $180.33 (0.41%) than the support at $174.23 (2.98%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Advanced Micro Devices stock A Buy?
The Advanced Micro Devices stock holds several negative signals and despite the positive trend, we believe Advanced Micro Devices will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.097 Sell Candidate Downgraded
Predicted Opening Price for Advanced Micro Devices of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$178.74 ( 0.473%) | $179.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 184.57 | 2.77 % | |
R2 | 182.34 | 1.53 % | ||
R1 | 180.97 | 0.767 % | ||
Current price: | 179.59 | |||
Support | S1 | 176.51 | -1.71 % | |
S2 | 175.14 | -2.48 % | ||
S3 | 172.91 | -3.72 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 207.39 | 15.48 % | |
R2 | 192.53 | 7.21 % | ||
R1 | 180.33 | 0.412 % | ||
Current price | 179.59 | |||
Support | S1 | 174.23 | -2.98% | |
S2 | 167.69 | -6.63% | ||
S3 | 138.58 | -22.84% |
AMD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 18, 1995 | Apr 28, 1995 | May 24, 1995 | $0.0050 | 0.0287% |
2 | Apr 18, 1995 | Apr 27, 1995 | May 24, 1995 | $0.0050 | 0.0287% |
FAQ
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