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Red day on Monday for Advanced Micro Devices

StockInvest.us, 2 weeks ago

Advanced Micro Devices

The Advanced Micro Devices stock price fell by -0.95% on the last day (Monday, 12th Sep 2022) from $85.45 to $84.64. During the last trading day the stock fluctuated 2.26% from a day low at $83.46 to a day high of $85.35. The price has fallen in 7 of the last 10 days and is down by -7.17% for this period. Volume has increased on the last day by 3 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, 72 million shares were bought and sold for approximately $6.08 billion.

Stifel is very positive about AMD and gave it a "" rating on Sep 08, 2022. The price target was set to 122.Over the last 90 days, this security got 10 buy, 12 sell, and 0 hold ratings.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $79.42 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift.Given the current short-term trend, the stock is expected to rise 11.14% during the next 3 months and, with a 90% probability hold a price between $88.27 and $120.55 at the end of this 3-month period.

Advanced Micro Devices

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 $92.55. On a fall, the stock will find some support from the short-term average at $81.97. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Tuesday, September 06, 2022, and so far it has risen 7.52%. Further rise is indicated until a new top pivot has been found.

Advanced Micro Devices finds support from accumulated volume at $81.57 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 $1.89 between high and low, or 2.26%. For the last week, the stock has had daily average volatility of 3.24%.

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.