Advanced Micro Devices Forecast and Stock Analysis
Technical AMD stock analysis for April 24, 2019.
Advanced Micro Devices gained 1.75% in the last trading day, rising from $27.97 to $28.46 The price has risen in 6 of the last 10 days and is up by 4.48% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 9.90 million more shares were traded than the day before. In total, 51.48 million shares bought and sold for approximately $1 465.07 million.
Close price at the end of the last trading day (Wednesday, 24th Apr 2019) of the AMD stock was $28.46. This is 1.75% more than the trading day before Tuesday, 23rd Apr 2019.
During day the stock fluctuated 3.29% from a day low at $27.93 to a day high of $28.85.
30 day high of the AMD stock price was $29.95 and low was $24.55.
90 day high was $29.95 and low was $19.05.
52 week high for the Advanced Micro Devices - $34.14 and low - $9.56.
Advanced Micro Devices lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 27.34% during the next 3 months and, with 90% probability hold a price between $32.41 and $38.87 at the end of this period.
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 $27.86 and $26.09. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday April 15, 2019, 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 45 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 $26.00 and $24.41.
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 $26.00. If this is broken, then the next support from accumulated volume will be at $24.41 and $23.09.
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 $0.92 between high and low, or 3.29%. For the last week, the stock has had a daily average volatility of 2.94%.
Our recommended stoploss: $26.90 (-5.48%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 6 days ago.)
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Evaluation: Strong Buy Candidate
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.
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|AMD $28.46 ($0.49 1.75%)|
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