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Semiconductors Industry Stocks Technical Analysis - AMD

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- 2/16/2024 -
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Advanced Micro Devices (AMD) Technical Analysis

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Summary:
Weekly :Overbought sectorRelative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :The price has risen above the Parabolic SARThe Bollinger Bands are historically close together
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It was a first positive week for the Advanced Micro Devices (AMD). During the week, the AMD climbed 1.39 points, or 0.81%, and closed at 173.87 on Friday, February 16, 2024. Weekly volume was -12% 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 downtrend had started on November 30, 2021 at 164.46 and reached 54.57 on October 13, 2022. AMD lost 109.89 points, or 66.82%, in 45 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (104.54) is broken. A broken support is considered to be a long-term bullish signal. 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 long-term trend.

Medium-term trend: [See AMD medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 54.57 and reached 184.92 on January 25, 2024. AMD gained -130.35 points, or -238.87%, in 67 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 104.43 and resistance is at 202.27. 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 medium-term trend.

Weekly Technical Indicators: [See AMD weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend 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 downtrend had started on January 25, 2024 at 184.92 and reached 162.56 on January 31, 2024. AMD lost 22.36 points, or 12.09%, in 6 days. The price is now at the 50.58% retracement level.

Daily Technical Indicators: [See AMD daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since January 31, 2024. 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 distance between the Bollinger Bands (9.18%) is close to one year low (8.60%). It is 52.39% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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) 46.09
Williams' Percentage Range (W%R) 33.40
Lane's Stochastic (%D-Slow) 65.46
Greed/Fear Indicator (GFI) 59.38
Moving Average Converg./Diverg. (MACD) 6.60
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 82.46
Overbought
Williams' Percentage Range (W%R) 8.10
Strong Overbought
Lane's Stochastic (%D-Slow) 86.07
Overbought
Greed/Fear Indicator (GFI) 80.59
Overbought
Moving Average Converg./Diverg. (MACD) 12.49
Trading Signals
Description Value Chart
Monthly Trendline Resistance 206.91
Quarterly Trendline Resistance 202.27
Upper Bollinger Band 177.68
Weekly Stochastic Crossing 176.68
Daily Stochastic Crossing 175.39
Monthly Trendline Support 174.30
Price 173.87
20 Day Moving Average 173.29
Parabolic System 165.34
Lower Bollinger Band 161.71
50 Day Moving Average 155.00
Sector and Industry
Description Name Rank
Sector Information Technology 10
Industry Semiconductors 62
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 162.56
Low Date 01/31/2024
High 180.50
High Date 02/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 184.92
High Date 01/25/2024
Low 162.56
Low Date 01/31/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Support
Resistance 206.91
Support 174.30
Low 93.12
Low Date 10/26/2023
High 184.92
High Date 01/25/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 202.27
Support 104.43
Low 54.57
Low Date 10/13/2022
High 184.92
High Date 01/25/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 118.78
Support 104.54
High 164.46
High Date 11/30/2021
Low 54.57
Low Date 10/13/2022
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.