Advanced Micro Devices stock price fell more than -5.85% Wednesday closing at $149.11StockInvest.us, 1 month ago
The Advanced Micro Devices stock price fell by -5.85% on the last day (Wednesday, 1st Dec 2021) from $158.37 to $149.11. and has now fallen 3 days in a row. During the day the stock fluctuated 8.03% from a day low at $148.92 to a day high of $160.88. The price has fallen in 6 of the last 10 days and is down by -2.19% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -11 million shares and in total, 64 million shares were bought and sold for approximately $9.52 billion.
On Nov 25, 2021 "Jefferies Financial Group" gave "" rating for AMD. The price target was set to $157.80+5.3%.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 59.77% during the next 3 months and, with a 90% probability hold a price between $223.12 and $261.84 at the end of this 3-month period.
The Advanced Micro Devices stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $154.92. On a fall, the stock will find some support from the long-term average at approximately $136.16. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell 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 Monday, November 29, 2021, and so far it has fallen -7.91%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Advanced Micro Devices finds support from accumulated volume at $148.92 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 $11.96 between high and low, or 8.03%. For the last week, the stock has had a daily average volatility of 5.71%.
Advanced Micro Devices holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.Check full Advanced Micro Devices forecast and analysis here.