Buy Advanced Micro Devices | NASDAQ – AMD | Short Term Trading Advice | Semiconductors Sector | 9 Jul 2024 | Expected Gain 8% – 10%

Date

9 July 2024

Analysed By

Naranj Capital Research Desk

Stock Market

NASDAQ, United States of America

Stock Trading Advice in USA

Buy

Buy
Range

Target

Stoploss

Upside
Potential

Trade
Duration

Advanced Micro Devices

173 – 177

190 – 194

Below 165

8% - 10%

14 - 15 Days

Buy Advanced Micro Devices

Buy
Range 173 – 177

Target 190 – 194

Stoploss Below 165

Upside
Potential 8% - 10%

Trade
Duration 14 - 15 Days

* Once the first target hit, reset the StopLoss at your buying price.

* Trade durations are approximate; actual holding period may vary.

Advanced Micro Devices (NASDAQ: AMD) - Stock Overview

NASDAQ code

Stock Name

Sector

52 Weeks High

52 Weeks Low

AMD

Advanced Micro Device

Semiconductors

227.3

93.115

NASDAQ code AMD

Stock Name Advanced Micro Device

Sector Semiconductors

52 Weeks High 227.3

52 Weeks Low 93.115

Company profile

Advanced Micro Devices, Inc., a global leader in semiconductor technology, specializes in cutting-edge x86 microprocessors, graphics processing units (GPUs), embedded processors, and semi-custom system-on-chip (SoC) solutions. With a diverse portfolio that includes microprocessor and SoC development services, data processing units, field programmable gate arrays (FPGAs), and adaptive SoC products, AMD caters to a wide range of industries. Serving clients across the Data Center, Client, Gaming, and Embedded segments, AMD collaborates with original equipment manufacturers, design manufacturers, public cloud service providers, system integrators, independent distributors, and add-in-board manufacturers. Headquartered in Santa Clara, California, AMD has been driving innovation since its establishment in 1969.

Advanced Micro Devices (NASDAQ: AMD) vs NASDAQ - Relative Strength Comparison

The image showcases Advanced Micro Devices's 1-year performance relative to NASDAQ. — Relative Performance - Last 1 Year
AMD — NASDAQ —

Advanced Micro Devices (NASDAQ: AMD) - Technical Analysis (Daily)

Advanced Micro Devices - Technical Analysis chart on Daily Price and Volume

The price was previously consolidating and created a Rounding Bottom pattern.
Following the breakout, the price increased significantly and formed a Bullish Pole and Flag pattern.
After another breakout, the price reached its all-time high near the 227 level.
However, the price experienced a strong rejection and underwent a sharp decline.
Ultimately, the price found support near the 142 level and began moving upwards.
After a brief consolidation, the price formed a Double Bottom pattern and recently broke out.
There is an anticipation that the price may continue to rise from its current level.

Advanced Micro Devices (NASDAQ: AMD) - RSI Indicator

Advanced Micro Devices stock analysis based on RSI Indicator — Advanced Micro Devices - RSI Indicator

Current RSI of this stock is 67.60, which indicates the strength of buyers.

Advanced Micro Devices (NASDAQ: AMD) - MACD Indicator

Advanced Micro Devices stock analysis based on MACD Indicator — Advanced Micro Devices - MACD Indicator

MACD line has just crossed the signal line from the below, generates bullish signal.

Advanced Micro Devices (NASDAQ: AMD) - EMA Crossover

Advanced Micro Devices stock analysis based on EMA Crossover — Advanced Micro Devices - EMA Crossover

The short length exponential moving average (10 EMA) has just crossed the long length exponential moving average (20 EMA) from the below, generates bullish signal. Last day’s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.

Conclusion - Advanced Micro Devices (NASDAQ: AMD) Stock Price Forecast

Based on our swing stock trading advice in USA, Advanced Micro Devices stock price target will be USD 190 - USD 194 in the next 14-15 trading sessions.