Thu 19'th Oct 2017
Advanced Micro Devices Stock Analysis
Technical stock analysis for Thu 19'th Oct 2017
Hold candidate since 2017-10-16 Loss -2.17%
Given the current horizontal trend you can expect Advanced Micro Devices with 90% probability to be traded between $12.26 and $15.03 at the end of this period with 90% probability. 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 roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Advanced Micro Devices holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $14.11. On a fall, the stock will find some support from the long-term average at approximately $13.16. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Monday October 16, 2017, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
* Golden Star Signal* is when the short-term moving average, the long-term moving average, and priceline meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Relative Strength Index (RSI)
The stock holds a RSI14 at 76 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Advanced Micro Devices finds support from accumulated volume at $13.41. On the upside the stock meets some resistance just above today's level from accumulated volume at $14.12, $14.16 and $14.76.
The stock is about to test the resistance from accumulated volume at $14.12 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
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 $0.35 between high and low, or 2.56%. For the last week, the stock has had a daily average volatility of 2.30%.
Our recommended stoploss: $13.29 (-4.73%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from pivot top found 3 days ago.)
Very Low Low Medium High Very High
Advanced Micro Devices holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development.
Trade AMD CFDs with Plus500
Your capital is at risk.
Important: Plus500 doesn't offer signals and it is a CFD service.
Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).