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Advanced Micro Is Challenging a Trend Line: Chart of the Day

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Believe it or not, Advanced Micro Devices has been little changed for 10 months. But now the semiconductor stock may be getting ready to move.

This chart shows how AMD is stuck between a falling trend line and its 50-day moving average. Our Moving Average Speed custom script shows how the 50-day SMA only turned positive two weeks ago.

Next, Average True Range has narrowed to its tightest level since …

For more, please click here to view the related idea and chart analysis on TradingView.

Advanced Micro Devices (AMD), daily chart with selected patterns, courtesy of TradingView.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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