Stronger technical forecast for Advanced Micro Devices stock price after Tuesday trading.

The Advanced Micro Devices stock price fell by -4.31% on the last day (Tuesday, 25th Apr 2023) from $87.57 to $83.80. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.94% from a day low at $83.76 to a day high of $87.06. The price has fallen in 8 of the last 10 days and is down by -10.88% for this period. Volume has increased on the last day by 10 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, 50 million shares were bought and sold for approximately $4.22 billion.

Citigroup is very positive about AMD and gave it a "" rating on Feb 02, 2023. The price target was set to 76.Over the last 90 days, this security got 3 buy, 0 sell, and 0 hold ratings.

Given the current short-term trend, the stock is expected to rise 18.81% during the next 3 months and, with a 90% probability hold a price between $99.56 and $126.36 at the end of this 3-month period.

There are few to no technical positive signals at the moment. The Advanced Micro Devices stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $88.50 and $92.06. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 23, 2023, and so far it has fallen -16.43%. 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.

Advanced Micro Devices finds support from accumulated volume at $82.67 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 $3.30 between high and low, or 3.94%. For the last week, the stock has had daily average volatility of 2.89%.

Advanced Micro Devices is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Advanced Micro Devices holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.