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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 35.55 and 33.15. If the stock breaks down through support at 35.55 then it will probably continue lower to 33.15. The stock will meet resistance at 41.79 and 47.01. If the stock breaks up through resistance at 41.79 then it will probably continue higher to 47.01. The 200-day moving average is at 29.81. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (77.72), 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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