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- 3/15/2024 -
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Advanced Micro Devices (AMD) Technical Analysis

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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtRelative Strength Index and Lane's Stochastic bearish divergence
Daily :Broken trend support lineStochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARBullish Piercing Line CandlestickThe price is close to the moving average in the center of the Bollinger Bands
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It was the negative week for the Advanced Micro Devices (AMD). During the week, the AMD dropped -16.33 points, or -7.87%, and closed at 191.06 on Friday, March 15, 2024. Weekly volume was 20% above average.

AMD is a member of Information Technology Sector. Information Technology is the second 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 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 70.46 and resistance is at 267.89. 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 13, 2022 at 54.57 and reached 227.30 on March 8, 2024. AMD gained -172.73 points, or -316.53%, in 73 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 107.32 and resistance is at 209.98. 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 Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. Weekly Relative Strength Index and Lane's Stochastic have bearish divergence. Use the following links to access the Relative Strength Index and Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index and Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 Relative Strength Index 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 uptrend had started on February 21, 2024 at 161.81 and reached 227.30 on March 8, 2024. AMD gained -65.49 points, or -40.47%, in 16 days. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (207.20) is broken. A broken support is considered to be a long-term bearish 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 support in a short-term trend.

Daily Technical Indicators: [See AMD daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 is close to 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.

Candlestick pattern: [See AMD candlestick chart pattern]
On Friday the chart has formed a Bullish Piercing Line Candlestick pattern. This pattern suggests bulls have begun to take charge of the market, and shorts have been shaken by the sudden lost of bearish momentum. The reliability of the Bullish Piercing Line pattern is moderate. Use the Technical Stock Screener to see the list of stocks that had a Bullish Piercing Line Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.93
Williams' Percentage Range (W%R) 64.80
Lane's Stochastic (%D-Slow) 24.76
Greed/Fear Indicator (GFI) 39.94
Moving Average Converg./Diverg. (MACD) 8.65
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 75.30
Bearish
Williams' Percentage Range (W%R) 31.60
Lane's Stochastic (%D-Slow) 80.26
Overbought Bearish
Greed/Fear Indicator (GFI) 69.56
Moving Average Converg./Diverg. (MACD) 16.89
Trading Signals
Description Value Chart
Parabolic System 221.23
Upper Bollinger Band 220.27
Weekly Stochastic Crossing 214.00
Quarterly Trendline Resistance 209.98
Weekly Trendline Support 207.20
Daily Stochastic Crossing 192.42
Price 191.06
20 Day Moving Average 190.10
Monthly Trendline Support 176.87
50 Day Moving Average 175.26
Lower Bollinger Band 161.19
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry Semiconductors 59
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 227.30
High Date 03/08/2024
Low 184.03
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Support
Resistance 247.06
Support 207.20
Low 161.81
Low Date 02/21/2024
High 227.30
High Date 03/08/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 235.20
Support 176.87
Low 93.12
Low Date 10/26/2023
High 227.30
High Date 03/08/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 209.98
Support 107.32
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 267.89
Support 70.46
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.