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TMCNet:  Advanced Micro Devices (AMD) Crosses Pivot Point Support at $2.59

[January 11, 2013]

Advanced Micro Devices (AMD) Crosses Pivot Point Support at $2.59

Jan 11, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Advanced Micro Devices (NYSE:AMD) opened today below their pivot of $2.64 and have already reached the first level of support at $2.59. Should the shares continue to fall, the support pivots of $2.55 and $2.46 will be of interest.

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 $2.60, 44% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 2.4% while the 50-day MA has advanced 2.0%.

Potential upside of 5.2% exists for Advanced Micro Devices, based on a current level of $2.60 and analysts' average consensus price target of $2.74. The stock should hit resistance at its 200-day moving average (MA) of $4.44, as well as support at its 50-day MA of $2.24.

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 11.0%. 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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