AMD at bottom of long-term rising trend. Potential to USD 280.00
Technical Analysis of Advanced Micro Devices (AMD)
Advanced Micro Devices (AMD) shows a positive development within a long-term upward trend.
After a downward correction in recent months, the share now finds significant technical support around the current level.
The share now finds support both at the lower trend line in the long-term rising trend, and there is also a significant technical support level around USD 155.00.
Furthermore, AMD now finds technical support around the 50-day moving average, and the stock was also down some time ago and tested the support level at the 200-day moving average and then turned upwards again from that level.
In the very short picture, the stock is consolidating and meeting some technical resistance around the USD 170.00 level.
Various momentum indicators such as RSI, Stochastics and MACD signal that the stock is likely to face further upswing in the short term, and thus there may be a break above the resistance level around USD 170.00 in the near future.
The share appears to be a good buy candidate at today's price level, and a break above USD 170.00 will trigger new positive technical signals for the share.
The potential for the share is considered to be around USD 250.00 - 280.00 in the 6-9 month term.
What could possibly change today's positive technical picture for the AMD share would be if it had an established break down below the support level at USD 155.00, and below the lower trend line in the long-term trend channel as well as a break down below the 200-day moving average .
However, as the overall technical picture is today for the AMD share, a significant potential for the share is indicated from today's price level in the 6-9 month term.
Advanced Micro Devices (AMD) shows a positive development within a long-term upward trend.
After a downward correction in recent months, the share now finds significant technical support around the current level.
The share now finds support both at the lower trend line in the long-term rising trend, and there is also a significant technical support level around USD 155.00.
Furthermore, AMD now finds technical support around the 50-day moving average, and the stock was also down some time ago and tested the support level at the 200-day moving average and then turned upwards again from that level.
In the very short picture, the stock is consolidating and meeting some technical resistance around the USD 170.00 level.
Various momentum indicators such as RSI, Stochastics and MACD signal that the stock is likely to face further upswing in the short term, and thus there may be a break above the resistance level around USD 170.00 in the near future.
The share appears to be a good buy candidate at today's price level, and a break above USD 170.00 will trigger new positive technical signals for the share.
The potential for the share is considered to be around USD 250.00 - 280.00 in the 6-9 month term.
What could possibly change today's positive technical picture for the AMD share would be if it had an established break down below the support level at USD 155.00, and below the lower trend line in the long-term trend channel as well as a break down below the 200-day moving average .
However, as the overall technical picture is today for the AMD share, a significant potential for the share is indicated from today's price level in the 6-9 month term.
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