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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 53.12 suggesting the next support level is at 49.09. This weakness suggests the long-term trend is turning neutral.
The stock has support at 49.09 and 46.10. If the stock breaks down through support at 49.09 then it will probably continue lower to 46.10. The stock will meet resistance at 52.81 and 58.63. If the stock breaks up through resistance at 52.81 then it will probably continue higher to 58.63. The 200-day moving average is at 41.26. This will also act as support. The stock is neutral according to the Stochastic Indicator (46.32).”
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