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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. However, the stock has recently broken through an important trendline at 45.26 suggesting the next support level is at 41.79. This weakness suggests the long-term trend is turning neutral.
The stock has support at 41.79 and 37.15. If the stock breaks down through support at 41.79 then it will probably continue lower to 37.15. The stock will meet resistance at 45.26 and 49.09. If the stock breaks up through resistance at 45.26 then it will probably continue higher to 49.09. The 200-day moving average is at 36.40. This will also act as support. The stock is slightly oversold according to the Stochastic Indicator (34.84).”
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