Advanced Micro Devices may fall to 131.30 - 137.40

166.1 is our pivot point.

Our preference

Target 137.4.

Alternative scenario

The upside breakout of 166.1 would call for 176.5 and 182.7.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the stock is below its 20 day moving average (163.17) but above its 50 day moving average (153.5746).

Supports and resistances

182.7 **

176.5 *

166.1 **

162.1

155.97 (USD-last)

143.4

137.4 **

131.3 *

125.4 **

Number of asterisks represents the strength of support and resistance levels.