Technical Pulse: Advanced Micro Devices Inc October 7, 2019 349


The technical chart of Advanced Micro Devices (AMD) suggests that the share price may rebound soon after being range-bound since June 2019.

  1. The bullish hammer candlestick pattern managed to close above the 88.6% retracement level from 35.38-27.65 and 200SMA. In addition, Friday’s candlestick managed to stay above the 88.6% and high of the hammer.
  2. There is a potential double bottom formation with the bullish hammer rejecting the support level at 27.61.
  3. There is a falling wedge formation, which signals a potential bullish movement upwards.
  4. The %K and %D lines crossed in the oversold region of the stochastic oscillator.



Moving Averages

Red dotted line = 200 SMA

Blue dotted line = 50 SMA

Green dotted line = 22 SMA

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