14-day Premium Trial Subscription Sign Up For FreeGet Free

Advanced Micro Devices stock price up more than 5.13% on Thursday

StockInvest.us, 5 months ago

Advanced Micro Devices

The Advanced Micro Devices stock price gained 5.13% on the last trading day (Thursday, 29th Jul 2021), rising from $97.93 to $102.95. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 9.48% from a day low at $96.58 to a day high of $105.74. The price has risen in 7 of the last 10 days and is up by 18.43% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 23 million more shares were traded than the day before. In total, 163 million shares were bought and sold for approximately $16.79 billion.

On July 29, 2021 "Argus" gave "$106.00 - $120.00" rating for AMD. The price target was set to $97.93+7.6%.

Given the current short-term trend, the stock is expected to rise 23.59% during the next 3 months and, with a 90% probability hold a price between $111.09 and $127.24 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 $93.79 and $88.38. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 13, 2021, and so far it has risen 40.85%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 months Moving Average Convergence Divergence (MACD).

Advanced Micro Devices finds support from accumulated volume at $97.93 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 $9.16 between high and low, or 9.48%. For the last week, the stock has had a daily average volatility of 5.88%.

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.