Advanced Micro Devices Stock Forecast

AMD Signals & Forecast

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 $119.49. On a fall, the stock will find some support from the long-term average at approximately $98.86. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 26, 2023, and so far it has fallen -7.22%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

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Support, Risk & Stop-loss for Advanced Micro Devices stock

On the downside, the stock finds support just below today's level from accumulated volume at $97.58 and $96.60. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Advanced Micro Devices finds support just below today's level at $97.58. If this is broken, then the next support from accumulated volume will be at $96.60 and $95.04.

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 $3.99 between high and low, or 3.39%. For the last week, the stock has had daily average volatility of 4.78%.

Our recommended stop-loss: $111.35 (-5.52%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (AMD) For The Upcoming Trading Day Of Monday 5th

For the upcoming trading day on Monday, 5th we expect Advanced Micro Devices to open at $119.07, and during the day (based on 14 day Average True Range), to move between $112.73 and $122.99, which gives a possible trading interval of +/-$5.13 (+/-4.36%) up or down from last closing price. If Advanced Micro Devices takes out the full calculated possible swing range there will be an estimated 8.71% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $120.35 (2.11%) than the support at $97.58 (17.21%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Advanced Micro Devices stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Advanced Micro Devices stock to perform well in the short-term.

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