Advanced Micro Devices Stock Forecast

Buy candidate since Dec 04, 2024

The Advanced Micro Devices stock price increased 1.42% on the most recent trading day (Wednesday, 4th Dec 2024), climbing from $141.98 to $143.99. Throughout the last trading session, the stock experienced a fluctuation of 2.07%, with a day low of $141.20 and a day high of $144.12. The price has shown volatility during this period, resulting in a total gain of 3.3% over the last 2 weeks. Trading volume increased on the last day alongside the price, which is considered a positive technical indicator. In total, 3 million more shares were traded compared to the previous day. Overall, 25 million shares changed hands for approximately $3.56 billion.

The stock lies in the middle of a 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 -9.70% during the next 3 months and, with a 90% probability hold a price between $118.83 and $146.08 at the end of this 3-month period.

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AMD Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, November 15, 2024, and so far it has risen 6.74%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $145.85. On a fall, the stock will find some support from the short-term average at $140.04. 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.

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

Advanced Micro Devices finds support from accumulated volume at $141.86 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 $2.92 between high and low, or 2.07%. For the last week, the stock has had daily average volatility of 2.64%.

Our recommended stop-loss: $137.16 (-4.74%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 12 days ago.)

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

For the upcoming trading day on Thursday, 5th we expect Advanced Micro Devices to open at $143.10, and during the day (based on 14 day Average True Range), to move between $139.58 and $148.40, which gives a possible trading interval of +/-$4.41 (+/-3.07%) up or down from last closing price. If Advanced Micro Devices takes out the full calculated possible swing range there will be an estimated 6.13% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $141.86 (1.48%) than the resistance at $148.60 (3.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Advanced Micro Devices stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.601 Buy Candidate Upgraded

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Predicted Fair Opening Price

Predicted fair opening price on December 5, 2024 - $143.10 ( 0.616%).