The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

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- 11/24/2023 -
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Advanced Micro Devices (AMD) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is strongly overbought
Daily :Williams' Percentage Range is strongly overboughtStochastic has declined below the signal lineRelative Strength Index, Lane's Stochastic and MACD bearish divergence
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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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 71.17
Bearish
Williams' Percentage Range (W%R) 8.90
Strong Overbought
Lane's Stochastic (%D-Slow) 79.70
Bearish
Greed/Fear Indicator (GFI) 80.66
Overbought
Moving Average Converg./Diverg. (MACD) 4.08 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.81
Williams' Percentage Range (W%R) 8.60
Strong Overbought
Lane's Stochastic (%D-Slow) 69.40
Greed/Fear Indicator (GFI) 72.47
Moving Average Converg./Diverg. (MACD) 2.62
Trading Signals
Description Value Chart
Upper Bollinger Band 131.16
Daily Stochastic Crossing 122.93
Price 122.31
Parabolic System 120.22
Weekly Stochastic Crossing 118.54
20 Day Moving Average 113.54
50 Day Moving Average 106.62
Lower Bollinger Band 98.58
Sector and Industry
Description Name Rank
Sector Information Technology 10
Industry Semiconductors 93
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 116.41
Low Date 11/16/2023
High 124.76
High Date 11/22/2023
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 93.12
Low Date 10/26/2023
High 124.76
High Date 11/22/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 132.83
High Date 06/13/2023
Low 93.12
Low Date 10/26/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 179.12
Support 95.74
Low 54.57
Low Date 10/13/2022
High 132.83
High Date 06/13/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
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.