AMD ready to break through resistance level

For about a month, AMD – Advanced Micro Devices – moves almost horizontally with low volatility. It’s a typical trendless regime, where price moves more or less along its 10- and 20-day exponential moving averages and between its Bollinger Bands.

An interesting fact is that price hasn’t dropped below its 50-day exponential moving average or the lower Bollinger Band. This could indicate that there is resistance on behalf of the bulls, who may take the initiative and push price up.

In fact, a huge bullish candlestick sent price to the upper Bollinger Band and closed above it. We will wait to see price move above the blue resistance line as a verification of a bullish momentum.

This bullish momentum sent MACD above its signal line. It’s also important to note that MACD is in positive territory since late January.

Finally, AMD’s Relative Strength has moved above its 20-day exponential moving average as the stock outperforms our benchmark, the SPY.