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Advanced Micro Devices (AMD) Breaks Through Support at $2.49
[February 26, 2013]

Advanced Micro Devices (AMD) Breaks Through Support at $2.49

Feb 26, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Advanced Micro Devices (NYSE:AMD) opened today below their pivot of $2.57 and have already reached the first level of support at $2.49. Analysts will be watching for a cross of the next downside pivot targets of $2.45 and $2.33.

In the past 52 weeks, Advanced Micro Devices share prices have been bracketed by a low of $1.81 and a high of $8.35 and are now at $2.51, 39% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.9% while the 50-day MA has advanced 0.6%.

Potential upside of 14.5% exists for Advanced Micro Devices, based on a current level of $2.51 and analysts' average consensus price target of $2.87. Advanced Micro Devices shares should first meet resistance at the 50-day moving average (MA) of $2.60 and find additional resistance at the 200-day MA of $3.68.

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 7.2%. 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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