Advanced Micro Devices Inc (AMD) “On a long-term technical basis, the stock (AMD) is trading above its 200-day moving average which implies it is in a positive trend. However, the stock has broken through an important trendline at 45.52 suggesting the next level of support is 41.79. The long-term uptrend has now turned neutral.

The stock has support at 41.79 and 38.40. If the stock breaks down through support at 41.79 then it will probably continue lower to 38.40. The stock will meet resistance at 45.52 and 50.13. If the stock breaks up through resistance at 45.52 then it will probably continue higher to 50.13. The 200-day moving average is at 38.40. This will also act as support. If the stock closes below 40.92 a negative trend change is probable. Look for the stock to fall to the 200-day moving average at 38.40. The stock is neutral according to the Stochastic Indicator (63.24).”