Advanced Micro Devices, Inc. Stock Forecast
Green day on Tuesday for Advanced Micro Devices, Inc.
(Updated on Apr 30, 2024)
The Advanced Micro Devices, Inc. stock price gained 0.82% on the last trading day (Tuesday, 30th Apr 2024), rising from 148.60€ to 149.82€. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.05% from a day low at 148.60€ to a day high of 151.64€. The price has fallen in 6 of the last 10 days and is down by -2.82% for this period. Volume fell on the last day by -12 thousand shares and in total, 35 thousand shares were bought and sold for approximately 5.19€ million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very 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 -7.90% during the next 3 months and, with a 90% probability hold a price between 126.15€ and 170.46€ at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
AMD.F Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 8.17%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Advanced Micro Devices, Inc. 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 159.78€. On a fall, the stock will find some support from the short-term average at 144.57€. 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, Inc. stock
Advanced Micro Devices, Inc. finds support from accumulated volume at 148.60€ 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 3.04€ between high and low, or 2.05%. For the last week, the stock has had daily average volatility of 3.13%.
Our recommended stop-loss: 144.31€ (-3.68%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (AMD.F) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Advanced Micro Devices, Inc. to open at 150.02€, and during the day (based on 14 day Average True Range), to move between 144.06€ and 155.58€, which gives a possible trading interval of +/-5.76€ (+/-3.84%) up or down from last closing price. If Advanced Micro Devices, Inc. takes out the full calculated possible swing range there will be an estimated 7.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 148.60€ (0.81%) than the resistance at 153.08€ (2.18%), 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, Inc. stock A Buy?
Advanced Micro Devices, Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.745 Hold/Accumulate Unchanged
Predicted Opening Price for Advanced Micro Devices, Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| 150.02€ ( 0.133%) | 149.82€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMD.F
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 153.06 | 2.16 % | |
| R2 | 151.90 | 1.39 % | ||
| R1 | 151.18 | 0.91 % | ||
| Current price: | 149.82 | |||
| Support | S1 | 148.86 | -0.642 % | |
| S2 | 148.14 | -1.12 % | ||
| S3 | 146.98 | -1.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 184.40 | 23.08 % | |
| R2 | 163.08 | 8.85 % | ||
| R1 | 153.08 | 2.18 % | ||
| Current price | 149.82 | |||
| Support | S1 | 148.60 | -0.81% | |
| S2 | 146.40 | -2.28% | ||
| S3 | 140.38 | -6.30% |
FAQ
Click here for our free guide on how to buy Advanced Micro Devices, Inc. Stock.
