Advanced Micro Devices stock price down 1.22% on Friday
(Updated on Sep 30, 2022)
Sell candidate since 2022-08-26 Loss -30.51% PDF
The Advanced Micro Devices stock price fell by -1.22% on the last day (Friday, 30th Sep 2022) from $64.14 to $63.36. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.06% from a day low at $63.34 to a day high of $65.91. The price has fallen in 7 of the last 10 days and is down by -17.19% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -21 million shares and in total, 82 million shares were bought and sold for approximately $5.17 billion.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $61.00 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -11.68% during the next 3 months and, with a 90% probability hold a price between $53.87 and $84.67 at the end of this 3-month period.
Signals & Forecast
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 $66.68 and $82.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, August 04, 2022, and so far it has fallen -39.02%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss
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 $2.57 between high and low, or 4.06%. For the last week, the stock has had daily average volatility of 4.47%.
Advanced Micro Devices is oversold on RSI14 (10). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Advanced Micro Devices to open at $64.20, and during the day (based on 14 day Average True Range), to move between $59.91 and $66.81, which gives a possible trading interval of +/-$3.45 (+/-5.45%) up or down from last closing price. If Advanced Micro Devices takes out the full calculated possible swing range there will be an estimated 10.90% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $0.78 (1.23%) our system find the risk reward not very attractive.
Is Advanced Micro Devices stock A Buy?
Advanced Micro Devices holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -5.923Strong Sell Candidate Unchanged
Predicted Opening Price for Advanced Micro Devices of Monday, October 3, 2022
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price October 3, 2022||Current price|
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About Advanced Micro Devices
Advanced Micro Devices, Inc. operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chi... AMD Profile
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