Advanced Micro Devices Inc (AMD) “On a long-term technical basis, the stock (AMD) is trading above its 200-day moving average which generally implies it is in a positive trend. However, the stock has broken down through an important fibonacci fan trendline at 59.44 suggesting the next level of support is 51.89. The long-term uptrend has now turned neutral.

The stock has support at 51.89 and 49.09. If the stock breaks down through support at 51.89 then it will probably continue lower to 49.09. The stock will meet resistance at 52.81 and 56.98. If the stock breaks up through resistance at 52.81 then it will probably continue higher to 56.98. The 200-day moving average is at 45.24. This will also act as support. If the stock closes below 51.89 a negative trend change is probable. The stock could fall to the 200-day moving average at 45.24. The stock is slightly oversold according to the Stochastic Indicator (29.97).”