Advanced Micro Devices Broke Resistance

New York, November 30th (TradersHuddle.com) - Shares of Advanced Micro Devices, Inc. (NYSE:AMD) closed the session at $2.04 just above calculated resistance at $1.97. The stock effectively broke out and grasped the attention of momentum traders, which could eventually push the stock to a different trading range.

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.

The stock was trading in a well defined range with support at $1.84 and resistance at $1.97. Given that this range was broken, traders will be closely monitoring Advanced Micro Devices' price action to gather clues on the future direction.

From a technical perspective, it can be expected that previous resistance becomes support, as the new range gets defined. However, given that Advanced Micro Devices is still near the broken resistance level, traders will be focusing on the $1.97 level to see if the stock holds the breakout without rolling over.



Related Partner Headlines

    What’s the next under-$10 stock that could be ready to skyrocket? Find out now when you join David Peltier at Stocks Under $10.

    Technical Scans

    Stock Market

    Loading
    Chart
    o Dow Jones 17,712.66 ▲34.43 (0.19%)
    o S&P 500 2,061.02 ▲4.87 (0.24%)
    o NASDAQ 4,891.22 ▲27.86 (0.57%)
    INDEXDJX:.DJI

    Dow Jones

    Company ID [INDEXDJX:.DJI] Last trade:17,712.66 Trade time:4:33PM EDT Value change:▲34.43 (0.19%)
    INDEXSP:.INX

    S&P 500

    Company ID [INDEXSP:.INX] Last trade:2,061.02 Trade time:4:33PM EDT Value change:▲4.87 (0.24%)
    INDEXNASDAQ:.IXIC

    NASDAQ

    Company ID [INDEXNASDAQ:.IXIC] Last trade:4,891.22 Trade time:5:16PM EDT Value change:▲27.86 (0.57%)

    In The Wires

    Copyright © 2013 TradersHuddle.com. All Rights Reserved.