AMD quotes continue to move as part of the rise and almost reached an important resistance. Moving averages indicate a short-term bullish trend for AMD. Prices moved up from the area between the signal lines, which indicates pressure from buyers of securities. At the time of publication of the forecast, the share price is 94.69. As part of the forecast, we should expect an attempt to develop a correction and a test of the support level near the 91.05 area. Further, the rebound and the continuation of the rise in the value of securities. The potential target of such a movement is the area above the level of 110.05 in July 2021.
AMD Forecast and Analysis for July 2021
An additional signal in favor of raising AMD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the support area, a “Double Bottom” reversal pattern is also forming here. Cancellation of the growth option for AMD stock prices will be a fall and a breakdown of the level of 80.05. This will indicate a breakdown of the support area and continued fall into the area at the level of 70.00. It is worth expecting an acceleration in the rise of shares with the breakdown of the resistance area and closing above the level of 100.05, as we see, last time the prices could not reach this level.
AMD Forecast and Analysis for July 2021 assumes the development of a correction and a test of the support area near the level of 91.05. Where can we expect a rebound and an attempt to continue the rise of the pair to the area above the level of 110.05. A test of the trend line on the relative strength index (RSI) will be in favor of the growth of the currency pair. Cancellation of the option to raise AMD will be a fall and a breakdown of the level of 80.05. This will indicate a breakdown of support and a continued fall in value to the area below the level of 70.00.
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