[May 23, 2012] Advanced Micro Devices (AMD) Crosses Pivot Point Support at $6.07 Tweet May 23, 2012 (SmarTrend(R) News Watch via COMTEX) -- Advanced Micro Devices (NYSE:AMD) has opened bearishly below the pivot of $6.17 today and has reached the first level of support at $6.07. Investors may be interested in a cross of the next downside pivot targets of $5.98 and $5.79. In the past 52 weeks, shares of Advanced Micro Devices have traded between a low of $4.31 and a high of $8.71 and are now at $5.92, which is 37% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% while the 200-day MA has remained constant. There is potential upside of 49.3% for shares of Advanced Micro Devices based on a current price of $5.92 and an average consensus analyst price target of $8.84. The stock should run into initial resistance at its 200-day moving average (MA) of $6.42 and subsequent resistance at its 50-day MA of $7.52. SmarTrend recommended that its subscribers protect gains by selling shares of Advanced Micro Devices on May 4th, 2012 by issuing a Downtrend alert when the shares were trading at $7.27. Since that call, shares of Advanced Micro Devices have fallen 15.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup [ Back To TMCnet.com's Homepage ]