Advanced Micro Devices Inc. (AMD) stock price recorded a sharp rebound in its latest intraday trading, despite being affected by a prior break of a main short-term upward trend line. Negative pressure remains in place due to trading below its SMA50, which limits the chances of a full near-term recovery. The stock is attempting to recover part of its previous losses while also unwinding oversold conditions on the RSI, with a positive crossover starting to appear.

Therefore we expect the stock price to decline in upcoming trading, as long as the $224.65 resistance level remains intact, to target the key support at $182.50.

Todays price forecast: Bearish