Unified Communications Industry News

TMCNet:  Next Resistance Level for Advanced Micro Devices (AMD) is $2.51

[December 18, 2012]

Next Resistance Level for Advanced Micro Devices (AMD) is $2.51

Dec 18, 2012 (SmarTrend(R) News Watch via COMTEX) -- Advanced Micro Devices (NYSE:AMD) has opened bullishly above the pivot of $2.44 today and has reached the first level of resistance at $2.48. Investors may be interested in a cross of the next upside pivot targets of $2.51 and $2.58.

Advanced Micro Devices share prices have moved between a 52-week high of $8.35 and a 52-week low of $1.81 and are now trading 38% above that low price at $2.50 per share. Over the past week, the 200-day moving average (MA) has gone down 2.5% while the 50-day MA has declined 4%.

Advanced Micro Devices (NYSE:AMD) has potential upside of 9.6% based on a current price of $2.50 and analysts' consensus price target of $2.74. Advanced Micro Devices shares should encounter resistance at the 200-day moving average (MA) of $4.88 and support at the 50-day MA of $2.32.

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 4.2%. 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 cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- 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

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