Downtrend Broken Resist.Archive
- 9/15/2023 -
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Advanced Micro Devices (AMD) Technical Analysis
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|It was the negative week for the Advanced Micro Devices (AMD). During the week, the AMD dropped -4.60 points, or -4.34%, and closed at 101.49 on Friday, September 15, 2023. Weekly volume was -24% 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 76.40 and resistance is at 159.22. 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 downtrend had started on June 13, 2023 at 132.83 and reached 99.59 on August 25, 2023. AMD lost 33.24 points, or 25.02%, in 10 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (97.09) 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 medium-term trend.
Weekly Technical Indicators: [See AMD weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since July 28, 2023. This is an indication that the medium-term trend is down. 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 September 5, 2023 at 111.82 and reached 101.28 on September 15, 2023. AMD lost 10.54 points, or 9.43%, in 10 days. Price is near the trend low.
Daily Technical Indicators: [See AMD daily technical indicators chart]
Daily technical indicators are neutral.
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 has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The distance between the Bollinger Bands is falling, and it was 10.09% on Friday. It is 54.96% lower than one year average. It indicates the period of low volatility of the stock price. 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.