Advanced Micro Devices stock price up 1.31% on Tuesday

StockInvest.us, 2 months ago

Advanced Micro Devices

The Advanced Micro Devices stock price gained 1.31% on the last trading day (Tuesday, 27th Sep 2022), rising from $66.30 to $67.17. During the last trading day the stock fluctuated 4.21% from a day low at $66.00 to a day high of $68.78. The price has fallen in 7 of the last 10 days and is down by -12.8% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 million more shares were traded than the day before. In total, 95 million shares were bought and sold for approximately $6.37 billion.

The last rating was given by Morgan Stanley on Sep 23, 2022. The price target was changed from 102 to 95.Over the last 90 days, this security got 9 buy, 13 sell, and 0 hold ratings.

The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $66.22 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -4.85% during the next 3 months and, with a 90% probability hold a price between $63.01 and $96.00 at the end of this 3-month period.

Advanced Micro Devices

There are mixed signals in the stock today. The Advanced Micro Devices stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $71.06 and $85.57. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, September 26, 2022, and so far it has risen 1.31%. Further rise is indicated until a new top pivot has been found. 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.

Advanced Micro Devices finds support from accumulated volume at $66.30 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 $2.78 between high and low, or 4.21%. For the last week, the stock has had daily average volatility of 4.81%.

Advanced Micro Devices holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Check full Advanced Micro Devices forecast and analysis here.