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 43.61 suggesting the next level of support is 39.11. The long-term uptrend has now turned neutral.

The stock has support at 39.11 and 37.15. If the stock breaks down through support at 39.11 then it will probably continue lower to 37.15. The stock will meet resistance at 41.04 and 43.61. If the stock breaks up through resistance at 41.04 then it will probably continue higher to 43.61. The 200-day moving average is at 37.72. This will also act as support. If the stock closes below 39.11 a negative trend change is probable. Look for the stock to fall to the 200-day moving average at 37.72. The stock is extremely oversold according to the Stochastic Indicator (17.89), so look for a possible rebound soon. Confirm this with the Short-Term Opinion and Daily Opinion to keep from exiting prematurely.”