Advanced Micro Devices stock price ended on $97.58 on Wednesday after gaining 1.72%

The Advanced Micro Devices stock price gained 1.72% on the last trading day (Wednesday, 22nd Mar 2023), rising from $95.93 to $97.58. During the last trading day the stock fluctuated 6.34% from a day low at $95.64 to a day high of $101.70. The price has been going up and down for this period, and there has been a 14.3% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 25 million more shares were traded than the day before. In total, 111 million shares were bought and sold for approximately $10.80 billion.

Citigroup is very positive about AMD and gave it a "" rating on Feb 02, 2023. The price target was set to 76.Over the last 90 days, this security got 3 buy, 0 sell, and 0 hold ratings.

The stock lies in the upper part of a 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 $99.26 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 39.23% during the next 3 months and, with a 90% probability hold a price between $118.80 and $138.20 at the end of this 3-month period.

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 $94.56 and $84.54. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, March 17, 2023, and so far it has fallen -0.266%. Further fall is indicated until a new bottom pivot has been found.

Advanced Micro Devices finds support from accumulated volume at $96.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $6.06 between high and low, or 6.34%. For the last week, the stock has had daily average volatility of 5.69%.

The Advanced Micro Devices stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Advanced Micro Devices stock to perform well in the short-term.