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Advanced Micro Devices (AMD) Approaches New Downside Target of $2.57
[January 15, 2013]

Advanced Micro Devices (AMD) Approaches New Downside Target of $2.57

Jan 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 --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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