Advanced Micro Devices may fall to 122.30 - 129.40

Our pivot point stands at 165.5.

Our preference

Under pressure below 165.5.

Alternative scenario

The upside breakout of 165.5 would call for 177.8 and 185.1.

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 trading under both its 20 and 50 day moving average (respectively at 167.3105 and 163.7312).

Supports and resistances

185.1 **

177.8 *

165.5 **

160.6

151.58 (USD-last)

136.5

129.4 **

122.3 *

115.2 **

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