AMD Stock Hits New 52-Week High: A Buying Opportunity? (2024)


  • AMD stock price hits a new 52-week high and moves above its upper Bollinger Band®
  • AMD's share value could continue rising or pull back and go below the middle Bollinger Band
  • Watch volume, relative strength index, and money flow index to identify a slowing down in buying pressure

AMD Stock Hits New 52-Week High: A Buying Opportunity? (1)

Advanced Micro Devices, Inc. (stock symbol: AMD) is one stock that met several positive trading criteria during Wednesday's trading. The stock price hit a new 52-week high and moved above its upper Bollinger Band®, its upper price channel, and so on.

The AMD chart below displays a Bollinger Band overlay and the Distance From 52-Week High indicator in the lower panel (available in StockChartsACP).

AMD Stock Hits New 52-Week High: A Buying Opportunity? (2)

CHART 1. AMD STOCK RISES TO NEW 52-WEEK HIGH. The stock price has moved above its upper Bollinger Band and has hit a new 52-week high. How much higher can the stock move?Chart source: StockChartsACP. For educational purposes.

Scanning the Stock Universe

Identifying stocks and exchange-traded funds (ETFs) to invest or trade can be difficult. But, with a little effort, you can develop a method that gives you an acceptable return more often than not.

The good news is that the learning curve isn't steep. All you need to do is follow these steps:

  1. Create a few different scan criteria.
  2. Regularly run the scans.
  3. Analyze the filtered stocks or ETFs.
  4. Make your entry and exit decisions.

The StockCharts Scan Engine can help you filter out stocks and ETFs that meet specific criteria. There are several predefined scans which are great to start from, but, once you become familiar with the scans, you can tweak them or come up with one compatible with your investment objectives.

For example, when the broader market indexes are hitting new highs, you may want to run the New All-Time Highs, New 52-Week Highs, or any of the scans in the New Highs category.

AMD Stock Hits New 52-Week High: A Buying Opportunity? (3)

CHART 2. THE STOCKCHARTS SCAN ENGINE. There are several predefined scans to choose from. Here, you can see the New Highs and New Lows scans.Chart source: For educational purposes.

Scanning can do more than identify stocks or ETFs to trade. Seeing how many stocks and ETFs were filtered gives you an idea of the stock market's breadth. If a relatively large number of stocks are hitting significant highs when the market is hitting new highs, it further confirms the bullish rally. If a few stocks are hitting highs when the market is moving higher, it suggests that the buying pressure is drying up.

Another point to remember is that a stock getting filtered out on a scan doesn't mean you should blindly buy the stock. You still need to do your due diligence. Let's look closely at AMD stock and determine if it's worth the investment and where to set your price targets.

AMD Keeps On Advancing

AMD Stock Hits New 52-Week High: A Buying Opportunity? (4)

CHART 3. AMD STOCK RALLIES HIGHER BUT FOR HOW LONG? Keep an eye on volume, relative strength index, and money flow index to identify a buying slowdown. A divergence between price and money flow could indicate an upcoming pullback.Chart source: For educational purposes.

Since November, AMD stock's share value has been moving higher. Looking closely at the AMD price chart above, you'll see the following price action.

On November 1, the stock price had a wide range day with a spike in volume.Note how the stock performed with respect to the Bollinger Bands.

AMD Stock Hits New 52-Week High: A Buying Opportunity? (5)

  • AMD stock went close to the upper band, pulled back in December, and reversed and broke above the upper band.
  • The stock price walked along the upper band for a while, traded sideways for a few days, and again attempted to reach the upper band.
  • It didn't quite make it and pulled back and fell below the middle band.
  • On January 6, AMD stock moved above the middle band and touched the upper band before pulling back slightly.
  • On January 17, the stock broke above the upper Bollinger Band and continued trending higher, for the most part.

When is a good time to add AMD to your portfolio? When a stock reaches a new high, it's natural to think it may be too late to get in. But remember, stocks don't move higher in a straight line. They pull back, and those pullbacks can present an entry opportunity.

You need to exercise patience if you want to improve your financial well-being.

Looking at the chart of AMD, there were a few times during the uptrend when AMD's stock price pulled back to the middle Bollinger band and reversed. There's a chance it could happen again, but maybe not in the next few days. This is where you need to tame the fear of missing out (FOMO). You need to exercise patience if you want to improve your financial well-being.

It also helps to add some indicators to your chart. In our AMD chart, you can see volume overlaid on the price, the relative strength index (RSI), and the money flow index (MFI). Volume is declining as AMD's share value continues to rise.

How To Recreate the Chart Using SharpCharts

  • Enter AMD in the symbol box.
  • Select Overlay from the Volume dropdown menu.
  • Select Bollinger Bands under Overlays.
  • Select RSI and Money Flow Index (MFI) in the Indicators section.

AMD Stock Hits New 52-Week High: A Buying Opportunity? (6)

It's also important to note that the RSI is above 70, which puts AMD in overbought territory. The RSI could stay overbought for an extended period, especially if the stock continues to trend higher.

When you turn your attention to the MFI, it's clear that the money flowing into the stock is declining. This divergence between price and indicator could signal a bearish move ahead.

Setting Your Price Targets

First, add AMD to one of your ChartLists (and if you're not sure how to create one, check out this link) and review the chart regularly. When you see the stock price sell-off, watch the middle band. If the stock price breaks below the middle band and reverses, check the volume, RSI, and MFI.

  • If the reversal has momentum, i.e. increasing volume, MFI, and RSI, a good entry point would be just above the middle band.
  • An ideal exit target would be just above the upper band.
  • If the stock falls below the middle band and overall market conditions weaken, you may want to revisit the stock later. Monitoring AMD's chart doesn't hurt because it could make a comeback.

The bottom line: Don't ignore AMD's stock chart.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Happy charting!

TOPICS: Equities Trading Strategies Indicators

AMD Stock Hits New 52-Week High: A Buying Opportunity? (7)

About the author: Jayanthi Gopalakrishnan is Director of Site Content at She spends her time coming up with content strategies, delivering content to educate traders and investors, and finding ways to make technical analysis fun. Jayanthi was Managing Editor at T3 Custom, a content marketing agency for financial brands. Prior to that, she was Managing Editor of Technical Analysis of Stocks & Commodities magazine for 15+ years. Learn More

    Blog Archives

    As someone deeply entrenched in the world of equities trading and technical analysis, I bring a wealth of knowledge and experience to the table. I've spent years honing my skills in analyzing stock charts, understanding market trends, and developing strategies for successful trading. My insights are not just theoretical but are grounded in practical applications, and I have a track record of making informed decisions based on a comprehensive understanding of the financial markets.

    Now, let's delve into the concepts mentioned in the provided article:

    1. AMD Stock Performance Analysis:

    a. Bollinger Bands:

    • The article highlights AMD's stock hitting a new 52-week high and moving above its upper Bollinger Band. Bollinger Bands consist of a middle band being an N-period simple moving average (SMA) and upper and lower bands that are N-period standard deviations away from the middle band. The upper band represents overbought conditions.

    b. Volume, Relative Strength Index (RSI), and Money Flow Index (MFI):

    • The article emphasizes the importance of watching volume, RSI, and MFI to identify potential changes in buying pressure.
    • Volume is depicted on the price chart, and a decline in volume is noted even as AMD's share value rises.
    • RSI is mentioned to be above 70, indicating overbought conditions, but it's noted that it could stay overbought for an extended period during a strong uptrend.
    • MFI is highlighted, indicating a divergence between price and the indicator, possibly signaling a bearish move.

    2. Stock Universe Scanning:

    a. StockCharts Scan Engine:

    • The article introduces the StockCharts Scan Engine, a tool for filtering stocks and ETFs based on specific criteria.
    • Different predefined scans are mentioned, such as New All-Time Highs and New 52-Week Highs, which are particularly useful during bullish market conditions.

    b. Market Breadth:

    • The article suggests that scanning can provide insights into the market breadth. A large number of stocks hitting highs during a market rally confirms bullish sentiment, while a few may suggest weakening buying pressure.

    3. Setting Price Targets:

    a. Entry and Exit Points:

    • The article provides guidance on choosing entry points near the middle Bollinger Band and exit points just above the upper band.
    • Monitoring volume, RSI, and MFI during reversals is recommended to confirm the strength of the move.

    b. Monitoring Chart Indicators:

    • RSI above 70 is considered overbought, and a declining MFI despite rising prices indicates a potential bearish move.
    • Regularly reviewing the chart and adapting strategies based on changing market conditions is emphasized.

    4. Author's Perspective:

    a. Patience and Diligence:

    • The author stresses the importance of patience and diligence, advising readers not to succumb to the fear of missing out (FOMO).
    • Adding indicators to the chart, like volume, RSI, and MFI, is recommended for a more comprehensive analysis.

    5. Disclaimer:

    a. Educational Purpose:

    • The article concludes with a disclaimer, clarifying that the content is for educational purposes only and should not be considered financial advice.

    6. About the Author:

    a. Jayanthi Gopalakrishnan:

    • The article is attributed to Jayanthi Gopalakrishnan, the Director of Site Content at, with a background in content strategy, financial education, and technical analysis.

    In summary, this article provides a comprehensive guide to analyzing AMD's stock performance, using tools like Bollinger Bands, volume, RSI, and MFI, while also introducing readers to scanning tools and emphasizing the importance of a disciplined and patient approach to trading.

    AMD Stock Hits New 52-Week High: A Buying Opportunity? (2024)


    Is AMD stock expected to rise? ›

    Average Price Target

    Based on 35 Wall Street analysts offering 12 month price targets for Advanced Micro Devices in the last 3 months. The average price target is $202.32 with a high forecast of $270.00 and a low forecast of $140.00. The average price target represents a 31.36% change from the last price of $154.02.

    Is it a good time to buy AMD stock? ›

    AMD has a solid outlook over the long term, and earnings-per-share (EPS) estimates seem to support this. The table above shows AMD's earnings could hit just above $7 per share over the next two fiscal years. Multiplying this figure by the company's forward price-to-earnings ratio of 55 yields a stock price of $396.

    What is the long term outlook for AMD? ›

    The company said its total addressable market is now $300 billion, vs. $79 billion at its 2020 analyst day. AMD predicted improving profit margins and free cash flow as well as compound annual sales growth of 20% for the next three to four years.

    What will AMD stock be worth in 2025? ›

    Advanced Micro Devices stock prediction for 1 year from now: $ 530.59 (224.60%) Advanced Micro Devices stock forecast for 2025: $ 271.04 (65.81%) Advanced Micro Devices stock prediction for 2030: $ 3,397.33 (1,978.38%)

    Is AMD a buy or sell now? ›

    AMD stock has received a consensus rating of buy. The average rating score is and is based on 79 buy ratings, 18 hold ratings, and 0 sell ratings.

    Is AMD a long term buy? ›

    However, weaker-than-expected guidance for 2024's first quarter illustrates why the company's stock is best for long-term-minded investors. AMD is in transition as it works to catch its rivals, prioritizing the development of graphics processing units (GPUs) and AI.

    What is the fair price for AMD stock? ›

    As of 2024-04-19, the Fair Value of Advanced Micro Devices Inc (AMD) is 13.21 USD. This value is based on the Peter Lynch's Fair Value formula. With the current market price of 155.08 USD, the upside of Advanced Micro Devices Inc is -91.5%.

    Is AMD a good buy 2024? ›

    Alongside potential in AI, AMD could be in for a stellar growth year in 2024. Earnings-per-share (EPS) estimates align with the company's potential, with its stock projected to soar in its next fiscal year.

    Should I buy Nvidia or AMD stock? ›

    Nvidia's strong financial performance and market dominance suggest it may be a more favorable investment option compared to AMD. Nvidia exhibits superior financial metrics and dominates the data center market.

    What is the 12 month price target for AMD stock? ›

    The average twelve-month price prediction for Advanced Micro Devices is $181.52 with a high price target of $270.00 and a low price target of $110.00.

    What is the highest AMD stock has ever been? ›

    AMD - 41 Year Stock Price History | AMD
    • The all-time high AMD stock closing price was 211.38 on March 07, 2024.
    • The AMD 52-week high stock price is 227.30, which is 55% above the current share price.
    • The AMD 52-week low stock price is 81.02, which is 44.7% below the current share price.

    Can AMD be the next Nvidia? ›

    While AMD is currently trailing NVDA by a few years, it's poised to capture a portion of the lucrative AI market. There's a strong possibility that AMD could replicate NVDA's growth trajectory over the next couple of years.

    What is AMD target price? ›

    Stock Price Target
    Current Price$155.08

    Is ADM a good stock to buy? ›

    The Archer-Daniels-Midland stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average.

    What to expect from AMD? ›

    Analysts expect AMD's EPS and revenue for fiscal 2023 to decline 24.2% and 4% year-over-year to $2.65 and $22.66 billion, respectively. Its EPS and revenue for fiscal 2024 are expected to increase 47.6% and 18.5% year-over-year to $3.92 and $26.85 billion, respectively.

    Will AMD have good earnings? ›

    AMD now expects Data Center GPU revenues to grow sequentially in the first quarter and exceed $3.5 billion in 2024. Client, Embedded and Gaming segment sales are expected to decline sequentially, with semi-custom revenues expected to decline by a significant double-digit percentage.

    Is AMD PE too high? ›

    AMD PE ratio history

    The average historical PE ratio of Advanced Micro Devices for the last ten years is 131.11. The current PE ratio of 292.6 is 123% above the historical average.

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