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TMCNet:  Advanced Micro Devices (AMD) Approaches New Upside Target of $2.36

[December 06, 2012]

Advanced Micro Devices (AMD) Approaches New Upside Target of $2.36

Dec 06, 2012 (SmarTrend(R) News Watch via COMTEX) -- Shares of Advanced Micro Devices (NYSE:AMD) have bullishly opened above the pivot of $2.28 today and have reached the first resistance level of $2.32. Should the shares continue to rise, the resistance pivots of $2.36 and $2.43 will be of interest.

Over the past year, Advanced Micro Devices has traded in a range of $1.81 to $8.35 and is now at $2.30, 27% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has declined 3.6%.

There is potential upside of 25.4% for shares of Advanced Micro Devices based on a current price of $2.30 and an average consensus analyst price target of $2.88. The stock should run into initial resistance at its 50-day moving average (MA) of $2.51 and subsequent resistance at its 200-day MA of $5.11.

SmarTrend is monitoring the recent change of momentum in Advanced Micro Devices. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Advanced Micro Devices in search of a potential trend change.

Write to Chip Brian at --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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