Advanced Micro Devices, Inc (AMD) Technical Analysis

Advanced Micro Devices, Inc (AMD) ... had a very bad last two years in 2006-7
crashing from 42$ to 5.52$.... is the bearish sentiment behinds us?

its interesting to see that the major bearish move was initiated from a broken triangle that was created between the two lines : support1 and resistance 2, that was broken in Nov 07, that lead to the huge drop we saw AMD crashing from 12$ to 5.52$.


we find much interest in the line support1 that became resistance 2, as breaking this line would shed a bullish sentiment on the stock in the midterm. the line is currently resisting around 11.8$.


furthermore,
looking at the AMD stock for the last bearish move in Oct07 (14.54$) to Jan08,
AMD formed a support line at 5.52$, examining the retracement of this bearish drop, gives us the following targets : 8.97$, 10.03$.
ADX shows that the trend is still strong.




examining other indicators shows us another 2 bullish signs in AMD stock,
1. the price broke the EMA 14 upward
2. RSI is very bullish

to conclude, AMD is bullish in short term, the midterm trend will be examined at breaking 8.97, 10.03$ and 12$.