Advanced Micro Devices (AMD)

by | Jun 27, 2022 | Daily Trade Alerts

Keep an eye on Advanced Micro Devices (AMD).

After becoming oversold on RSI, MACD, and Williams’ %R, the tech stock is starting to pivot higher. From a current price of $87.08, we’d like to see it closer to $110 again, near-term. Even Morgan Stanley analyst Joe Moore just resumed coverage of the stock with an overweight rating and a price target of $103 a share.

“After the recent selloff, AMD offers potential for solid numbers at a reasonable valuation, with probably the best chance in our coverage of achieving consensus numbers this year and next,” said the analyst, as quoted by Barron’s.

On Friday, AMD was up $4.65 a share. In pre-market, AMD is up another 86 cents.

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