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AMD Stock Analysis: Trading zone & Trouble Ahead..

Conclusion for today’s AMD stock analysis:

Failure to close above $28.53 implies more downside for AMD that should see price close below $16.16.

AMD’s technical analysis for today is carried out using a 6 hour timeframe a candlestick chart, with attention drawn to the current trading zone in AMD. Previous analysis for AMD can be found here.

AMD Technical Analysis

Meandering price action since October 30, 2018 till current date has produced a sidetrend, following price retreating after the September 25, 2018 price high of $33.60.

Support region for the current sideways price action is present between $16.16 and $14.73, while the upper boundary and lower boundary of resistance is $28.53 and $25.29 respectively.

A breakout above $28.53 implies further upside for AMD. Lack of a breakout above $28.53 and/or consolidation within the region of resistance could result in a downward swing in the price of AMD.

Strategies for selling include the following

(1) Selling on a breakout below $21.92 is considered (less conservative).

(2) Selling on a breakout below AMD’s long term bullish trendline (conservative).

(3) Selling on a breakout below $16.16 (most conservative).

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