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Downtrend Broken Resist.Archive
- 11/24/2023 -
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Advanced Micro Devices (AMD) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a fourth positive week after 3 consecutive negative weeks for the Advanced Micro Devices (AMD). During the week, the AMD gained 1.69 points, or 1.40%, and closed at 122.31 on Friday, November 24, 2023. Weekly volume was -34% 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 95.74 and resistance is at 179.12. 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 uptrend had started on October 26, 2023 at 93.12 and reached 124.76 on November 22, 2023. AMD gained -31.64 points, or -33.98%, in 3 weeks. The price is now at the 7.74% retracement level.
 Weekly Technical Indicators: [See AMD weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 link to access 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 low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 November 16, 2023 at 116.41 and reached 124.76 on November 22, 2023. AMD gained -8.35 points, or -7.17%, in 6 days. The price is now at the 29.34% 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. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is above its signal line since October 31, 2023. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
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