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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 52.24 suggesting the next support level is at 48.15. This weakness suggests the long-term trend is turning neutral.
The stock has support at 48.15 and 42.23. If the stock breaks down through support at 48.15 then it will probably continue lower to 42.23. The stock will meet resistance at 52.24 and 58.63. If the stock breaks up through resistance at 52.24 then it will probably continue higher to 58.63. The 200-day moving average is at 40.48. This will also act as support. The stock is slightly overbought according to the Stochastic Indicator (67.05).”
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