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Green day on Tuesday for Advanced Micro Devices stock after gaining 2.21%

StockInvest.us, 3 months ago

Advanced Micro Devices

The Advanced Micro Devices stock price gained 2.21% on the last trading day (Tuesday, 1st Feb 2022), rising from $114.25 to $116.78. , and has now gained 4 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 4.02% from a day low at $112.73 to a day high of $117.26. The price has fallen in 7 of the last 10 days and is down by -11.48% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 19 million more shares were traded than the day before. In total, 116 million shares were bought and sold for approximately $13.50 billion.

On Jan 20, 2022 "Piper Sandler" gave "$140.00 - $130.00" rating for AMD. The price target was changed from $127.47 to 0.6%.

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 -17.03% during the next 3 months and, with a 90% probability hold a price between $83.95 and $118.28 at the end of this 3-month period.

Advanced Micro Devices

A buy signal was issued from a pivot bottom point on Thursday, January 27, 2022, and so far it has risen 13.82%. 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. 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 $133.30. On a fall, the stock will find some support from the short-term average at $111.03. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Advanced Micro Devices finds support from accumulated volume at $116.53 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $4.53 between high and low, or 4.02%. For the last week, the stock has had a daily average volatility of 7.10%.

Advanced Micro Devices holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Check full Advanced Micro Devices forecast and analysis here.