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S&P 500 Overbought StocksArchive
- 4/5/2024 -
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Advanced Micro Devices (AMD) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Advanced Micro Devices (AMD). During the week, the AMD dropped -10.07 points, or -5.58%, and closed at 170.42 on Friday, April 5, 2024. AMD was trading at average weekly trading volume.
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 71.13 and resistance is at 270.62. 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 109.45 and resistance is at 215.67. 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 technical indicators are neutral.
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 and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 March 8, 2024 at 227.30 and reached 165.58 on April 5, 2024. AMD lost 61.72 points, or 27.15%, in 28 days. The price is now at the 7.84% retracement level.
 Daily Technical Indicators: [See AMD daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. Daily Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bullish 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 Williams' Percentage Range help.
The daily MACD line is below its signal line since March 12, 2024. This is an indication that the short-term trend is down.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Information Technology |
8 |
| Industry |
Semiconductors |
58 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
187.24 |
| High Date |
04/01/2024 |
| Low |
165.58 |
| Low Date |
04/05/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
227.30 |
| High Date |
03/08/2024 |
| Low |
165.58 |
| Low Date |
04/05/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Broken Support |
| Resistance |
254.14 |
| Support |
188.76 |
| Low |
93.12 |
| Low Date |
10/26/2023 |
| High |
227.30 |
| High Date |
03/08/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Valid |
| Resistance |
215.67 |
| Support |
109.45 |
| Low |
54.57 |
| Low Date |
10/13/2022 |
| High |
227.30 |
| High Date |
03/08/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Valid |
| Resistance |
270.62 |
| Support |
71.13 |
| Low |
1.81 |
| Low Date |
11/16/2012 |
| High |
227.30 |
| High Date |
03/08/2024 |
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