Advanced Micro Devices Close to 200 Day Moving Average

Published on Thursday, 26 January 2012 07:40 Written by Christopher Lynn

New York, January 26th (TradersHuddle.com) - Shares of Advanced Micro Devices, Inc. (NYSE:AMD) traded at $6.73 close to its 200 day moving average currently set at $6.58. Advanced Micro Devices' price action is just above this key support level, and it will certainly raise traders attention, as a possible trading opportunity.

Advanced Micro Devices, Inc. (NYSE:AMD) manufactures semiconductor products. The Company manufactures products that include microprocessors, embedded microprocessors, chipsets, graphics, video and multimedia products. Advanced Micro Devices, the second largest chipmaker in the world, offers its products on a global basis.

Latest price action range, defined by a peaks and troughs algorithm places calculated support at $4.82 and calculated resistance at $6.81. These levels will certainly be watched by traders, as they provide insight into the latest price dynamics defined by Advanced Micro Devices stock.

Traders wanting to establish a position on Advanced Micro Devices will be looking at the price action for evidence of buying near the 200 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.