Advanced Micro Devices, Inc, shows strong development. Investtech, the analytical research company yesterday, 13th January 2020, provided an update on their view of AMD shares. The daily free analysis they offer on their homepage can be found here. It suggests a continued rise in the stock price as well as providing insight into the underlying technicals of AMD stock.
An outline of the analysis is below:
Advanced Micro Devices, Inc, shows healthy development within a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates a continued rise. There is no resistance in the price chart, and further growth is indicated. In case of an adverse reaction, the stock has support at approximately 34.30 dollars. RSI is above 70 after a reasonable price increase the past weeks. The stock has strong positive momentum, and further expansion is indicated. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The stock is overall assessed as technically positive for the medium long term.
Danny Deegan is the owner and proprietor of stocktipsguru.com. Born in the UK, currently working within financial services with an emphasis on equity investments.