📉 AMD’s stock technical analysis: Is a 34% correction looming? 📉
- Stay Ahead of the Curve: For the savvy traders and investors looking to keep a pulse on Advanced Micro Devices (AMD), catch the most important news summaries each trading day. Stay informed on key valuation metrics, recent insider trading, and updated analyst recommendations for AMD stock at ForexLive.com
🔍 Analyzing the AMD long term… For the last 24 years:
- AMD’s stock has shown a failed breakout above the critical red resistance line, indicating potential bearish momentum ahead.
- Historical performance over the last 24 years suggests AMD’s shares might be on a path to correct towards the $125 mark.
📊 Technical indicators:
- The Volume Profile Visible Range (VPVR) indicates a significant trading activity around the $125 level, dubbed the ‘value area high’ starting from 2020.
🔻 What does this mean?:
- A potential correction of about 34% from the current price could be in play if AMD’s stock continues to respect the long-term resistance trend.
🤔 For AMD stock investors and traders:
- It’s crucial to monitor AMD’s stock closely, especially for those holding long positions or considering entry points.
- Embrace a strategy that includes hedging or setting up stop-loss levels to mitigate potential losses during such corrections.
💡 Key takeaways for this long term AMD analysis:
- AMD has experienced a failed breakout, raising caution among investors.
- The correction target sits around $125, which is reinforced by the volume profile data.
🔗 Stay updated every trading day of AMD stock
- While the chart presents a cautious narrative, it’s important to consider other fundamental factors and market conditions that may influence AMD’s stock performance.
- Keeping abreast of AMD stock daily news, analyst opinions, and insider transactions at ForexLive.com is key to staying ahead in the trading game. Trade AMD at your own risk only.
This article was written by Itai Levitan at www.forexlive.com. Source