Advanced Micro Is Challenging a Trend Line
Believe it or not, Advanced Micro Devices has been little changed for 10 months. But now the semiconductor stock may be getting ready to move.
This chart shows how AMD is stuck between a falling trend line and its 50-day simple moving average (SMA). Our Moving Average Speed custom script shows how the 50-day SMA only turned positive two weeks ago.
Next, Average True Range has narrowed to its tightest level since July 10, shortly before AMD’s last big surge.
Third, notice how MACD has been rising since late May. The 8-day exponential moving average (EMA) has also climbed above the 21-day EMA. Both of those suggest the short-term trend is turning more positive.
Finally you have the $73.90 level, the top of the gap from July 29. AMD has held that level several times, including mid-May. Interestingly, the chart somewhat resembles Facebook in March, when the bears made one last assault before going into an all-out retreat. Traders may watch the trendline for evidence of something similar taking place in AMD.
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This chart shows how AMD is stuck between a falling trend line and its 50-day simple moving average (SMA). Our Moving Average Speed custom script shows how the 50-day SMA only turned positive two weeks ago.
Next, Average True Range has narrowed to its tightest level since July 10, shortly before AMD’s last big surge.
Third, notice how MACD has been rising since late May. The 8-day exponential moving average (EMA) has also climbed above the 21-day EMA. Both of those suggest the short-term trend is turning more positive.
Finally you have the $73.90 level, the top of the gap from July 29. AMD has held that level several times, including mid-May. Interestingly, the chart somewhat resembles Facebook in March, when the bears made one last assault before going into an all-out retreat. Traders may watch the trendline for evidence of something similar taking place in AMD.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
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