• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing

AMD Is Still Searching for a Tradable Low

Let's check the charts and indicators.
By BRUCE KAMICH
Jun 29, 2022 | 12:35 PM EDT
Stocks quotes in this article: AMD

In our March 31 review of Advanced Micro Devices (AMD) we wrote that "AMD has turned down from a lower high. A retest of the $100 area is now likely and a close below $100 is likely to precipitate further losses. Avoid the long side of AMD."

Let's check out the charts again. 

In this updated daily bar chart of AMD, below, we can see that in early April AMD closed below $100 and a deeper decline ensued. Prices are trading below the declining 50-day moving average line. The 200-day moving average line is also in a decline.
 
The On-Balance-Volume (OBV) line has made new lows this month and tells us that sellers of AMD have been more aggressive than buyers. The Moving Average Convergence Divergence (MACD) oscillator is bearish. 
 
 
In this weekly Japanese candlestick chart of AMD, below, we can see that prices are trading below the declining 40-week moving average line. Trading volume has been very heavy the past few months but that has not helped the price action. The OBV line has shown weakness since November. The MACD oscillator is bearish.
 
 
In this daily Point and Figure chart of AMD, below, we can see a downside price target in the $67 area.
 
In this weekly Point and Figure chart of AMD, below, we can see a possible price target in the $51 area.
 
Bottom line strategy: Shares of AMD could make a bounce at any point in time but the trend is down and I would not try to buck it right now. Avoid the long side of AMD.
 
(AMD is a holding in the Action Alerts PLUS member club . Want to be alerted before AAP buys or sells this stock? Learn more now. )
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Investing | Stocks | Technical Analysis | Trading | Semiconductors & Semiconductor Equipment | Technology

More from Investing

Making Sense of Irrational Market Moves

James "Rev Shark" DePorre
Aug 11, 2022 4:55 PM EDT

Has this recent very powerful rally created a supply of underinvested bulls who are anxious to buy pullbacks and dips?

I Smell a Play With Clarus Corp.

Mark Sebastian
Aug 11, 2022 2:42 PM EDT

Is there a possible buyout? A looming breakout? Let's see.

The Market Was Out of Whack in 2022, So Time to Reset Your Strategy

Carley Garner
Aug 11, 2022 2:32 PM EDT

Let's perform an intermarket correlation check, and see how commodities moved vs. themselves and the buck -- and what to expect next.

Think Twice Before Getting on That Six Flags Ride

Bruce Kamich
Aug 11, 2022 2:10 PM EDT

SIX gaps lower and a new decline has been set in motion after earnings. Let's check the charts.

This New Energy Fund Sounds Dirty, But Could Help Investors Clean Up

Mark Abssy
Aug 11, 2022 1:33 PM EDT

The Strive U.S. Energy exchange-traded fund is billed as an anti-ESG ETF. Let's see how it stacks up against the similar Energy Select SPDR Fund.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 08:44 AM EDT PETER TCHIR

    CPI Beats Expectations, But Maybe Not the 'Whisper'?

    Slightly better-than-expected inflation across the...
  • 01:44 PM EDT STEPHEN GUILFOYLE

    This Holding Lights Up With Strong Earnings

    Check out the latest from TheStreet's Stocks Under...
  • 09:24 AM EDT PETER TCHIR

    Jobs Report Reaction: Incredibly Strong, But Questions to Ask

    An incredibly strong July jobs report. Not only d...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2022 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login