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Advanced Micro Devices Inc (AMD) “On a long-term technical basis, the stock (AMD) is trading above its 200-day moving average which implies it is in a positive trend.
The stock has support at 41.79 and 38.17. If the stock breaks down through support at 41.79 then it will probably continue lower to 38.17. The stock will meet resistance at 50.00 and 58.77. If the stock breaks up through resistance at 50.00 then it will probably continue higher to 58.77. The 200-day moving average is at 32.68. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (87.04), so look for a possible pullback soon. Confirm this with the Short-Term and Daily Opinion to keep from exiting prematurely.”
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