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Look for Shares of Adv Micro Device to Potentially Pullback after Yesterday's 3.53% Rise

By Amy Schwartz

Adv Micro Device (NASDAQ:AMD) traded in a range yesterday that spanned from a low of $15.78 to a high of $16.48. Yesterday, the shares gained 3.5%, which took the trading range above the 3-day high of $15.95 on volume of 50.9 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 $9.04 to $16.48 and is now at $16.37, 81% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 3.0%.

SmarTrend recommended that subscribers consider buying shares of Adv Micro Device on April 26th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.90. Since that recommendation, shares of Adv Micro Device have risen 45.4%. We continue to monitor AMD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders adv micro device

Ticker(s): AMD