TMCnet News
Advanced Micro Devices (AMD) Approaches New Downside Target of $2.57Jan 15, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Advanced Micro Devices (NYSE:AMD) have bearishly opened below the pivot of $2.65 today and have reached the first support level of $2.61. Should the shares continue to fall, the support pivots of $2.57 and $2.49 will be of interest. Potential upside of 3.8% exists for Advanced Micro Devices, based on a current level of $2.64 and analysts' average consensus price target of $2.74. The stock should find resistance at its 200-day moving average (MA) of $4.39, as well as support at its 50-day MA of $2.26. Over the past year, Advanced Micro Devices has traded in a range of $1.81 to $8.35 and is now at $2.64, 46% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has slid 1.9%. SmarTrend recommended that subscribers consider buying shares of Advanced Micro Devices on December 3rd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $2.36. Since that recommendation, shares of Advanced Micro Devices have risen 11.9%. We continue to monitor AMD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. 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 |