ADVANCED MICRO DEVICES INC. - Advanced Micro Devices, Inc (symbol ‘AMD’) - 01/23/2024 (GMT)

Shares of Advanced Micro Devices, Inc (symbol ‘AMD’) rose by around 10% in the third quarter of the year.  The company’s earnings report for the fiscal quarter ending December 2023 is expected to be released on Tuesday 30th of January, after market close. The consensus EPS is $0.58, against $0.54 of the same quarter last year.  ‘The company reached a new all-time high on January 19th at $174.23 after trading outside of the upper band of the Bollinger bands, indicating the high volatility in the market for its shares. As of September 30, 2023, there has been a notable year-over-year reduction of approximately 30.45% in the company's long-term debt. This decline has resulted in the total debt comprising a modest 13.5% of the overall liabilities. ‘ said Antreas Themistokleous, trading specialist at Exness.

From the technical analysis perspective, the price has reached a new all-time high and has corrected to the downside in today’s session at the time of this report being written. The upper band of the Bollinger bands has proven to be sufficient resistance to the price while at the same time indicating fueled-up volatility for the share. 
The faster-moving average (50 days) is trading well above the slower (100 days), validating the overall bullish momentum in the market, while the Stochastic oscillator is recording an extreme overbought level, hinting that a correction to the downside is a possible scenario in the following sessions. If the correction takes place, then the first area of possible support might be found around the $160 level, which is the psychological support of the round number and is also just below the support of the 23.6% of the weekly Fibonacci retracement level.