The Greedy Trader Weekly Analysis
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- 5/17/2024 -
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Advanced Micro Devices (AMD) Technical Analysis

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Summary:
Weekly :Lane's Stochastic is oversoldBroken trend resistance line
Daily :Williams' Percentage Range is strongly overboughtThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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It was a second consecutive positive week for the Advanced Micro Devices (AMD). During the week, the AMD gained 12.55 points, or 8.26%, and closed at 164.47 on Friday, May 17, 2024. It was the best weekly gain since March 1, 2024. Weekly volume was -24% below average.

Long-term trend: [See AMD long-term trend chart]
A long-term uptrend had started on November 16, 2012 at 1.81 and reached 227.30 on March 8, 2024. AMD gained -225.49 points, or -12458.01%, in 590 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 72.56 and resistance is at 276.49. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See AMD medium-term trend chart]
A medium-term downtrend had started on March 8, 2024 at 227.30 and reached 141.16 on May 2, 2024. AMD lost 86.14 points, or 37.90%, in 7 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (136.11) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. AMD may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See AMD weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The weekly MACD line is below its signal line since April 5, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See AMD short-term trend chart]
A short-term uptrend had started on May 2, 2024 at 141.16 and reached 169.72 on May 17, 2024. AMD gained -28.56 points, or -20.23%, in 15 days. The price is now at the 18.38% retracement level.

Daily Technical Indicators: [See AMD daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.

The daily MACD line is above its signal line since May 2, 2024. This is an indication that the short-term trend is up.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.58
Williams' Percentage Range (W%R) 4.60
Strong Overbought
Lane's Stochastic (%D-Slow) 75.19
Greed/Fear Indicator (GFI) 75.05
Moving Average Converg./Diverg. (MACD) -3.85
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.89
Williams' Percentage Range (W%R) 62.90
Lane's Stochastic (%D-Slow) 13.41
Oversold
Greed/Fear Indicator (GFI) 32.23
Moving Average Converg./Diverg. (MACD) 12.92
Trading Signals
Description Value Chart
50 Day Moving Average 167.81
Upper Bollinger Band 167.46
Daily Stochastic Crossing 165.49
Price 164.47
20 Day Moving Average 154.10
Parabolic System 150.63
Weekly Stochastic Crossing 148.55
Lower Bollinger Band 147.21
Monthly Trendline Resistance 138.81
Monthly Trendline Support 136.11
Sector and Industry
Description Name Rank
Sector Information Technology 4
Industry Semiconductors 74
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 148.78
Low Date 05/14/2024
High 169.72
High Date 05/17/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 141.16
Low Date 05/02/2024
High 169.72
High Date 05/17/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 138.81
Support 136.11
High 227.30
High Date 03/08/2024
Low 141.16
Low Date 05/02/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 54.57
Low Date 10/13/2022
High 227.30
High Date 03/08/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 276.49
Support 72.56
Low 1.81
Low Date 11/16/2012
High 227.30
High Date 03/08/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.