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TMCNet:  Advanced Micro Devices (AMD) Breaks Through Support at $2.49

[February 26, 2013]

Advanced Micro Devices (AMD) Breaks Through Support at $2.49

Feb 26, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Advanced Micro Devices (NYSE:AMD) opened today below their pivot of $2.57 and have already reached the first level of support at $2.49. Analysts will be watching for a cross of the next downside pivot targets of $2.45 and $2.33.

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 $2.51, 39% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.9% while the 50-day MA has advanced 0.6%.

Potential upside of 14.5% exists for Advanced Micro Devices, based on a current level of $2.51 and analysts' average consensus price target of $2.87. Advanced Micro Devices shares should first meet resistance at the 50-day moving average (MA) of $2.60 and find additional resistance at the 200-day MA of $3.68.

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 7.2%. 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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