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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 generally implies it is in a positive trend. However, the stock has recently broken down through an important fibonacci fan trendline at 78.22 suggesting the next support level is at 73.85. This weakness suggests the long-term uptrend is turning neutral.
The stock has support at 73.85 and 69.55. If the stock breaks down through support at 73.85 then it will probably continue lower to 69.55. The stock will meet resistance at 76.10 and 81.67. If the stock breaks up through resistance at 76.10 then it will probably continue higher to 81.67. The 200-day moving average is at 61.76. This will also act as support. The stock is extremely oversold according to the Stochastic Indicator (18.60).”
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