Advanced Micro Devices Drops Near Key Bull, Bear Cycle Indicator
Portfolio Pulse from Melanie Schaffer
Advanced Micro Devices, Inc (NASDAQ:AMD) stock is falling in line with the general market, which is reacting bearishly to the Federal Reserve's hawkish statement. The stock has been in a downtrend since June 13 and is approaching the 200-day simple moving average (SMA), a key indicator for technical traders. If the bearish pressure continues, AMD could drop below the 200-day SMA, indicating a bear cycle. However, the stock is currently trading slightly above the 200-day SMA, which is likely to act as support for a short period.
September 21, 2023 | 6:36 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
AMD's stock is in a downtrend and is approaching the 200-day SMA. If the bearish pressure continues, the stock could drop below this level, indicating a bear cycle. However, the stock is currently trading slightly above the 200-day SMA, which could act as support.
The stock is in a downtrend and is approaching a key technical level, the 200-day SMA. If it drops below this level, it could indicate a bear cycle, which would likely lead to further price declines. However, the stock is currently trading slightly above this level, which could provide some support and potentially limit downside risk in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100