Advanced Micro Devices Inc. stock price (AMD) declined in its latest intraday trading, as the stock sought a rising bottom to serve as a base that could help it build the positive momentum needed to recover and break through the key and stubborn resistance level at $174.00. This comes under the dominance of the short-term main upward trend and its movement along a supporting trendline, benefiting as well from dynamic support provided by trading above its 50-day simple moving average. In addition, the Stochastic reached extreme oversold areas, excessively compared to the stocks movement.

Therefore, we expect the stock price to rise in its upcoming trading, especially if it breaks the aforementioned resistance at $174.00, targeting the next resistance level at $200.00.

Today's price forecast: Bullish