Advanced Micro Devices (AMD) is poised for growth driven by surging demand for AI infrastructure and data center chips. Its latest Instinct MI350 GPUs and upcoming MI400 series are gaining traction among hyperscalers, helping AMD close the gap with Nvidia (NVDA) in the AI inference market. Further, technical indicators point to bullish momentum, with AMD stock rated a Buy, implying further upside from current levels.
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Analyzing AMD Stock’s Technical Indicators
According to TipRanks’ easy-to-understand technical analysis tool, AMD stock is currently on an upward trend. The stock’s 50-day Exponential Moving Average (EMA) is 119.81, while its price is $137.91, implying a bullish signal. Further, its shorter duration EMA (20 days) also signals a Buy.
Moreover, the Rate of Change (ROC) is a momentum-based technical indicator. It measures the percentage change in a stock’s price between the current price and the price from a specific number of periods ago. Typically, a ROC above zero confirms an uptrend. AMD stock currently has an ROC of 14.35, which signals a Buy.
Another technical indicator, Williams %R, helps traders see if a stock is overbought or oversold. For AMD, Williams %R currently shows a Buy signal, suggesting the stock is not overbought and has room to run.
Is AMD a Good Stock to Buy?
On TipRanks, AMD stock has a Moderate Buy consensus rating based on 24 Buys and 10 Holds assigned in the last three months. The average AMD price target of $132.76 suggests a downside potential of 3.73% from its current price. In the past three months, shares of the company have gained about 64.89%.
