Thu April 26th 2007
Window of Technical Opportunity for AMDby Mike Paulenoff,
www.MPTrader.comThe time of truth approaches for Advanced Micro Devices (NYSE: AMD), after a bottoming period of about 2 months, which has positioned the price structure above the 9, 20 and 50 DMA's, while poised to thrust above its 13-month trendline. Purely from a technical perspective, AMD looks ripe for a period of recovery, initially to 17.75-18 and then towards a confrontation with the declining 200 DMA, now at 19.53. Having said all of the above, let's keep in mind that AMD has been in the grasp of a very powerful downtrend for the past year, which will not be easily reversed. If the time for such resurgence is not now, then the stock will be in considerably more difficulty if this window of technical opportunity is squandered.
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