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TMCNet:  Advanced Micro Devices (AMD) Approaches New Upside Target of $3.26

[October 11, 2012]

Advanced Micro Devices (AMD) Approaches New Upside Target of $3.26

Oct 11, 2012 (SmarTrend(R) News Watch via COMTEX) -- Advanced Micro Devices (NYSE:AMD) has opened bullishly above the pivot of $3.17 today and has reached the first level of resistance at $3.20. Investors may be interested in a cross of the next upside pivot targets of $3.26 and $3.35.

In the past 52 weeks, Advanced Micro Devices share prices have been bracketed by a low of $3.09 and a high of $8.35 and are now at $3.17, 3% above that low price. The 200-day and 50-day moving averages have moved 0.51% lower and 1.35% lower over the past week, respectively.

Advanced Micro Devices (NYSE:AMD) has potential upside of 79.8% based on a current price of $3.17 and analysts' consensus price target of $5.71. The stock should find initial resistance at its 50-day moving average (MA) of $3.76 and further resistance at its 200-day MA of $5.85.

SmarTrend recommended that its subscribers protect gains by selling shares of Advanced Micro Devices on May 4th, 2012 by issuing a Downtrend alert when the shares were trading at $7.27. Since that call, shares of Advanced Micro Devices have fallen 56.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

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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