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Advanced Micro Devices stock upgraded from Buy Candidate to Strong Buy Candidate after Monday trading session.

StockInvest.us, 1 month ago

Advanced Micro Devices

The Advanced Micro Devices stock price gained 4.59% on the last trading day (Monday, 29th Nov 2021), rising from $154.81 to $161.91. During the day the stock fluctuated 4.10% from a day low at $156.10 to a day high of $162.51. The price has been going up and down for this period, and there has been a 9.48% 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, 21 million more shares were traded than the day before. In total, 57 million shares were bought and sold for approximately $9.25 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 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 $167.81 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 50.75% during the next 3 months and, with a 90% probability hold a price between $203.98 and $252.98 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 $155.34 and $133.37. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, October 04, 2021, and so far it has risen 61.36%. 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 month Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $150.16 and $148.92.There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Advanced Micro Devices finds support just below today's level at $150.16. If this is broken, then the next support from accumulated volume will be at $148.92 and $122.28.

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 $6.41 between high and low, or 4.10%. For the last week, the stock has had a daily average volatility of 5.23%.

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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Check full Advanced Micro Devices forecast and analysis here.