Advanced Micro Devices Stock Forecast
Advanced Micro Devices stock upgraded from Strong Sell Candidate to Sell Candidate after Friday trading session.
(Updated on Sep 22, 2023)
The Advanced Micro Devices stock price gained 0.0936% on the last trading day (Friday, 22nd Sep 2023), rising from $96.11 to $96.20. During the last trading day the stock fluctuated 2.94% from a day low at $95.61 to a day high of $98.42. The price has fallen in 7 of the last 10 days and is down by -9.32% for this period. Volume fell on the last day by -8 million shares and in total, 52 million shares were bought and sold for approximately $4.98 billion. 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.
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The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $95.91 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -10.29% during the next 3 months and, with a 90% probability hold a price between $86.04 and $98.85 at the end of this 3-month period.
AMD Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, September 21, 2023, and so far it has risen 0.0936%. 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. 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 $100.68 and $106.51. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Advanced Micro Devices stock
Advanced Micro Devices finds support from accumulated volume at $96.11 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 $2.81 between high and low, or 2.94%. For the last week, the stock has had daily average volatility of 3.09%.
Advanced Micro Devices is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AMD) For The Upcoming Trading Day Of Monday 25th
For the upcoming trading day on Monday, 25th we expect Advanced Micro Devices to open at $96.74, and during the day (based on 14 day Average True Range), to move between $92.16 and $100.24, which gives a possible trading interval of +/-$4.04 (+/-4.20%) up or down from last closing price. If Advanced Micro Devices takes out the full calculated possible swing range there will be an estimated 8.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $96.11 (0.09%) than the resistance at $101.80 (5.82%), 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?
Advanced Micro Devices holds several negative signals and is within a 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -1.137 Open Broker Account
Sell Candidate UpgradedPredicted Opening Price for Advanced Micro Devices of Monday, September 25, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price September 25, 2023 | Current price |
|---|---|
| $96.74 | $96.20 (Undervalued) |
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Trading levels for AMD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 99.55 | 3.49 % | |
| R2 | 98.48 | 2.37 % | ||
| R1 | 97.82 | 1.68 % | ||
| Current price: | 96.20 | |||
| Support | S1 | 95.67 | -0.551 % | |
| S2 | 95.01 | -1.24 % | ||
| S3 | 93.93 | -2.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 115.82 | 20.40 % | |
| R2 | 109.35 | 13.67 % | ||
| R1 | 101.80 | 5.82 % | ||
| Current price | 96.20 | |||
| Support | S1 | 96.11 | -0.0936% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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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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