52-Week Range: $1.81-$4.65
Thursday's Volume: 25.48 million
Three-Month Average Volume: 29.35 million From a technical perspective, AMD moved slightly off its intraday low of $3.86 and right above its 50-day moving average of $3.71 with decent upside volume. This stock has been trending sideways inside of a consolidation chart pattern for the last month, with shares moving between $3.69 on the downside and $4 on the upside. Shares of AMD are now starting to move within range of triggering a near-term breakout trade above the upper-end of its recent sideways trading chart pattern. That breakout will hit if AMD manages to take out some near-term overhead resistance levels at $3.98 to $4 with high volume. Traders should now look for long-biased trades in AMD as long as it's trending above its 50-day at $3.71 or above more support at $3.69 and then once it sustains a move or close above those breakout levels with volume that hits near or above 29.35 million shares. If that breakout hits soon, then AMD will set up to re-fill some of its previous gap down zone from July that started at $4.65. Any high-volume move above $4.65 will then give AMD a chance to tag $5 to $5.50.