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Adv Micro Device Set to Possibly Pullback After Yesterday's Rally of 3.72%

By David Diaz

Adv Micro Device (NASDAQ:AMD) traded in a range yesterday that spanned from a low of $10.20 to a high of $10.50. Yesterday, the shares gained 3.7%, which took the trading range above the 3-day high of $10.22 on volume of 22.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Adv Micro Device has traded in a range of $5.66 to $15.65 and is now at $10.45, 85% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 100% while the 50-day MA has declined 100%.

SmarTrend recommended that its subscribers protect gains by selling shares of Adv Micro Device on March 23rd, 2018 by issuing a Downtrend alert when the shares were trading at $10.77. Since that call, shares of Adv Micro Device have fallen 6.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders adv micro device

Ticker(s): AMD