Evaluation of Advanced Micro Devices stock downgraded after the last trading session.

The Advanced Micro Devices stock price fell by -3.87% on the last day (Thursday, 22nd Aug 2024) from $157.81 to $151.70. During the last trading day the stock fluctuated 5.85% from a day low at $151.01 to a day high of $159.84. The price has risen in 7 of the last 10 days and is up by 11.28% over the past 2 weeks. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 45 million shares were bought and sold for approximately $6.80 billion.

On Aug 20, 2024, it was reported that J.P. Morgan gave AMD a "Neutral" grade with a "hold" action.

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 -14.01% during the next 3 months and, with a 90% probability hold a price between $106.41 and $146.27 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.

There are mixed signals in the stock today. The Advanced Micro Devices stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $152.00. On a fall, the stock will find some support from the short-term average at $151.12. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, August 21, 2024, and so far it has fallen -3.87%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Advanced Micro Devices finds support from accumulated volume at $144.48 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 $8.83 between high and low, or 5.85%. For the last week, the stock has had daily average volatility of 4.21%.

Advanced Micro Devices holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.