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Advanced Micro Devices stock price ended on $128.92 on Friday after gaining 0.42844901456725%

StockInvest.us, 2 months ago

Advanced Micro Devices

The Advanced Micro Devices stock price gained 0.42844901456725% on the last trading day (Friday, 8th Dec 2023), rising from $128.37 to $128.92. During the last trading day the stock fluctuated 3.24% from a day low at $126.89 to a day high of $131.00. The price has been going up and down for this period, and there has been a 5.4% gain for the last 2 weeks. Volume fell on the last day by -29 million shares and in total, 89 million shares were bought and sold for approximately $11.49 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

On Dec 07, 2023, it was reported that KeyBanc gave AMD a "Overweight" grade with a "hold" action.

The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $132.22 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 23.67% during the next 3 months and, with a 90% probability hold a price between $130.75 and $163.52 at the end of this 3-month period.

Advanced Micro Devices

The Advanced Micro Devices stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $121.94 and $113.89. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, October 26, 2023, and so far it has risen 37.63%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Advanced Micro Devices finds support from accumulated volume at $128.37 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 $4.11 between high and low, or 3.24%. For the last week, the stock has had daily average volatility of 4.24%.

Advanced Micro Devices holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Check full Advanced Micro Devices forecast and analysis here.