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- 9/22/2023 -
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Advanced Micro Devices (AMD) Technical Analysis
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|It was the negative week for the Advanced Micro Devices (AMD). During the week, the AMD dropped -5.29 points, or -5.21%, and closed at 96.20 on Friday, September 22, 2023. Weekly volume was -23% below average. |
AMD is a member of Information Technology Sector. Information Technology is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See AMD long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 54.57 and reached 132.83 on June 13, 2023. AMD gained -78.26 points, or -143.41%, in 34 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 76.87 and resistance is at 161.25. 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 June 13, 2023 at 132.83 and reached 95.61 on September 22, 2023. AMD lost 37.22 points, or 28.02%, in 14 weeks. The chart has formed a Falling Wedge chart pattern. The price is near the trend support (96.20) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
Weekly Technical Indicators: [See AMD weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since July 28, 2023. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See AMD short-term trend chart]
A short-term downtrend had started on September 5, 2023 at 111.82 and reached 95.61 on September 22, 2023. AMD lost 16.21 points, or 14.50%, in 17 days. Price is near the trend low.
Daily Technical Indicators: [See AMD daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since September 14, 2023. This is an indication that the short-term trend is down.
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.
The price touches the lower Bollinger Band. 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.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.