AMD - Advanced Micro Devices Mon 27'th Feb 2017
Strong Buy Candidate
Stock analysis for Mon 27'th Feb 2017 (Updated daily)
Buy candidate since 2017-02-27
Advanced Micro Devices Stock Analysis
Advanced Micro Devices gained 7.65% in the last trading day, rising from USD 14.12 to USD 15.20. The price has risen in 6 of the last 10 days days and is up by 11.93% over the past 2 weeks. Volume also increased in the last day along with the price, which is a positive technical sign, and, in total, 48.98 million more shares were traded than the day before. In total, 95.05 million shares bought and sold for approximately USD 1.44 billion.
Advanced Micro Devices has broken the wide and strong rising the short-term trend up and an even stronger rising rate is indicated. For any reaction back there will now be support on the roof on the current trend broken at USD 15.02, a level that may pose a second chance to hit a runner. According to fan-theory USD 18.49 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.
Only positive signals in the chart today. Advanced Micro Devices holds buy signals from both short- and long-term moving averages. In addition, 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 USD 14.00 and USD 12.03. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday February 16, 2017, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 69 and the stock is currently not being overbought or oversold
Support & Resistance
On the downside, the stock finds support just below today's level from accumulated volume at USD 13.63 and USD 13.29. There is no resistance from accumulated volume above today's level and given the right condition the stock may perform very well during the next couple of days.
There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Advanced Micro Devices finds support just below today's level at 13.63. If this is broken, then the next support from accumulated volume will be at 13.29 and 12.06.
This stock may move much during a 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 USD 1.08 between high and low, or 7.57%. For the last week, the stock has had a daily average volatility of 5.65%.
Our recommended stoploss: USD 14.74 (-3.03%) ( Criterias: risk and break of trend)
Advanced Micro Devices holds several positive signals and has broken the strong rising trend up. As the stock is also in very good technical shape, we therefore consider it to be a good choice at current levels and are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Strong Buy Candidate.