Should You Buy or Sell This Nvidia Rival? Analysts Weigh In As Technicals Signal A Downtrend
Advanced Micro Devices (NASDAQ:AMD) shares have underperformed Nasdaq 100 despite gaining AI market share this year. Should you buy or sell the stock as its technical analysis indicates a downtrend? Here’s what analysts are saying about the stock.
What Happened: The technical analysis of daily moving averages indicates a bearish trend.
The stock ended at $126.29 apiece on Tuesday. This was above its eight-day simple moving average of $123.48. However, as per Benzinga Pro data, its current stock price was lower than the 20-day moving average of $130.77, 50-day moving average of $140.38 and its 200-day moving average of $154.50.
This implies that the stock is in a downtrend. On the other hand, the relative strength index of 40.31 suggests the stock’s movement is neutral and it is not yet in an overbought or an oversold zone.
See Also: NVDA Could Go Up To $170 In Q1 After Breaching $145 Level As Traders Turn Bullish On Jensen Huang’s AI Giant
Why …
Full story available on Benzinga.com