Advanced Micro Devices stock upgraded to Buy Candidate.StockInvest.us, 4 months ago
The Advanced Micro Devices stock price gained 1.68% on the last trading day (Monday, 23rd May 2022), rising from $93.50 to $95.07. During the day the stock fluctuated 4.70% from a day low at $90.92 to a day high of $95.19. The price has been going up and down for this period, and there has been a 10.09% gain for the last 2 weeks. Volume fell on the last day by -35 million shares and in total, 129 million shares were bought and sold for approximately $12.23 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Piper Sandler is very positive about AMD and gave it a "$98.00 - $140.00" rating on May 17, 2022. The price target was set to 102.47+8.73.Over the last 90 days, this security got 2 buy, 10 sell, and 0 hold ratings.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -22.27% during the next 3 months and, with a 90% probability hold a price between $59.13 and $81.28 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Mostly positive signals in the chart today. 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 $96.19. On a fall, the stock will find some support from the long-term average at approximately $94.31. 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. A buy signal was issued from a pivot bottom point on Wednesday, April 27, 2022, and so far it has risen 11.97%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Advanced Micro Devices finds support from accumulated volume at $93.87 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 $4.27 between high and low, or 4.70%. For the last week, the stock has had a daily average volatility of 7.41%.
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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.