Stronger technical forecast for Advanced Micro Devices stock price after Friday trading.StockInvest.us, 1 month ago
The Advanced Micro Devices stock price fell by -4.43% on the last day (Friday, 3rd Dec 2021) from $150.68 to $144.01. During the day the stock fluctuated 8.29% from a day low at $140.72 to a day high of $152.38. The price has fallen in 6 of the last 10 days and is down by -7.1% for this period. Volume has increased on the last day by 9 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, 65 million shares were bought and sold for approximately $9.43 billion.
On Nov 25, 2021 "Jefferies Financial Group" gave "" rating for AMD. The price target was set to $157.80+5.3%.
The stock lies in the lower part of a 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 $142.87 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 61.79% during the next 3 months and, with a 90% probability hold a price between $231.16 and $268.57 at the end of this 3-month period.
A sell signal was issued from a pivot top point on Monday, November 29, 2021, and so far it has fallen -11.06%. Further fall is indicated until a new bottom pivot has been found. 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. Some positive signals were issued as well, and these may have some influence on the near short-term development. 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 $153.81. On a fall, the stock will find some support from the long-term average at approximately $138.27. 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.
Advanced Micro Devices finds support from accumulated volume at $139.87 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 $11.66 between high and low, or 8.29%. For the last week, the stock has had a daily average volatility of 6.04%.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.Check full Advanced Micro Devices forecast and analysis here.