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TMCNet:  Next Support Level for Advanced Micro Devices (AMD) is $2.35

[December 27, 2012]

Next Support Level for Advanced Micro Devices (AMD) is $2.35

Dec 27, 2012 (SmarTrend(R) News Watch via COMTEX) -- Shares of Advanced Micro Devices (NYSE:AMD) have bearishly opened below the pivot of $2.46 today and have reached the first support level of $2.39. Analysts will be watching for a cross of the next downside pivot targets of $2.35 and $2.24.

Potential upside of 13.4% exists for Advanced Micro Devices, based on a current level of $2.42 and analysts' average consensus price target of $2.74. The stock should find resistance at its 200-day moving average (MA) of $4.72, as well as support at its 50-day MA of $2.22.

In the past 52 weeks, Advanced Micro Devices share prices have been bracketed by a low of $1.81 and a high of $8.35 and are now at $2.42, 33% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 1.3%.

SmarTrend is tracking the current trend status for Advanced Micro Devices and will alert subscribers who have AMD in their portfolio or watchlist when shares have changed trend direction.

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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