Advanced Micro Devices stock upgraded from Sell Candidate to Buy Candidate after Monday trading session.StockInvest.us, 2 weeks ago
The Advanced Micro Devices stock price gained 4.41% on the last trading day (Monday, 3rd Jan 2022), rising from $143.90 to $150.24. During the day the stock fluctuated 4.57% from a day low at $145.02 to a day high of $151.65. The price has fallen in 6 of the last 10 days, but is still up by 9.07% 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, 10 million more shares were traded than the day before. In total, 59 million shares were bought and sold for approximately $8.91 billion.
On Dec 23, 2021 "Westpark Capital" gave "$180.00" rating for AMD. The price target was set to $145.95+1.4%.
The stock lies in the middle of a very 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 33.88% during the next 3 months and, with a 90% probability hold a price between $190.48 and $239.89 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 $148.74 and $147.17. 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 Monday, November 29, 2021, and so far it has fallen -7.21%. Further fall is indicated until a new bottom pivot has been found.
Advanced Micro Devices finds support from accumulated volume at $150.16 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 $6.63 between high and low, or 4.57%. For the last week, the stock has had a daily average volatility of 3.84%.
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.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.Check full Advanced Micro Devices forecast and analysis here.