Advanced Micro Devices Stock Forecast

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. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $121.94 and $113.89. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, October 26, 2023, and so far it has risen 37.63%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

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

Advanced Micro Devices finds support from accumulated volume at $128.37 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 $4.11 between high and low, or 3.24%. For the last week, the stock has had daily average volatility of 4.24%.

Our recommended stop-loss: $124.77 (-3.22%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 30 days ago.)

Trading Expectations (AMD) For The Upcoming Trading Day Of Monday 11th

For the upcoming trading day on Monday, 11th we expect Advanced Micro Devices to open at $128.94, and during the day (based on 14 day Average True Range), to move between $124.62 and $133.22, which gives a possible trading interval of +/-$4.30 (+/-3.33%) up or down from last closing price. If Advanced Micro Devices takes out the full calculated possible swing range there will be an estimated 6.66% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $128.37, some $0.550 (0.43%) from the current price of $128.92, our system finds the risk reward attractive.

Is Advanced Micro Devices stock A Buy?

Advanced Micro Devices holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 5.404 Open Broker Account

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