Advanced Micro Devices Stock Forecast
Advanced Micro Devices stock upgraded to Hold/Accumulate.
(Updated on Jul 02, 2024)
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Advanced Micro Devices stock with a 90% probability to be traded between $144.51 and $171.83 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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AMD Signals & Forecast
The Advanced Micro Devices stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $160.25 and $161.87. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -4.25%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Advanced Micro Devices stock
Advanced Micro Devices finds support from accumulated volume at $161.78 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $7.87 (5.02%) between high and low. For the last week, the stock has had daily average volatility of 3.99%.
Our recommended stop-loss: $154.93 (-5.71%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 42 days ago.)
Trading Expectations (AMD) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Advanced Micro Devices to open at $161.86, and during the day (based on 14 day Average True Range), to move between $157.99 and $170.63, which gives a possible trading interval of +/-$6.32 (+/-3.84%) up or down from last closing price. If Advanced Micro Devices takes out the full calculated possible swing range there will be an estimated 7.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $164.47 (0.10%) than the support at $161.78 (1.54%), 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?
Advanced Micro Devices 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.411 Hold/Accumulate Upgraded
Predicted Opening Price for Advanced Micro Devices of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $161.86 ( 1.49%) | $164.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 169.73 | 3.30% |
| R2 | 166.72 | 1.47% |
| R1 | 164.87 | 0.339% |
| Price | 164.31 | |
| S1 | 158.85 | -3.32% |
| S2 | 157.00 | -4.45% |
| S3 | 153.99 | -6.28% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 170.42 | 3.72% |
| R2 | 165.83 | 0.93% |
| R1 | 164.47 | 0.0974% |
| Price | 164.31 | |
| S1 | 161.78 | -1.54% |
| S2 | 160.43 | -2.36% |
| S3 | 144.27 | -12.20% |
AMD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 1995 | Apr 28, 1995 | May 24, 1995 | $0.0050 | 0.0287% |
| 2 | Apr 18, 1995 | Apr 27, 1995 | May 24, 1995 | $0.0050 | 0.0287% |
FAQ
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