TMCnet News
Advanced Micro Devices (AMD) Crosses Pivot Point Support at $2.63Apr 26, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Advanced Micro Devices (NYSE:AMD) opened today below their pivot of $2.68 and have already reached the first level of support at $2.63. Analysts will be watching for a cross of the next downside pivot targets of $2.59 and $2.50. Advanced Micro Devices has overhead space with shares priced $2.61, or 9.6% below the average consensus analyst price target of $2.89. The stock should hit resistance at its 200-day moving average (MA) of $2.96, as well as support at its 50-day MA of $2.55. Over the past year, Advanced Micro Devices has traded in a range of $1.81 to $7.72 and is now at $2.61, 44% above that low. The 200-day and 50-day moving averages have moved 1.67% lower and 0.18% lower over the past week, respectively. 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 13.6%. 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 |