AMD Stock Technical Analysis: Setting the Stage for Its Next Move

AMD Stock: Continues to Exhibit Bullish Tendencies

I do not think I have ever experienced a stock market rally like the one currently in development. This market is clearly geared towards higher stock prices, and the order of the day continues to be new all-time highs.

With this type of bullish backdrop, how anybody can be bearish on Advanced Micro Devices, Inc. (NASDAQ:AMD) stock is beyond me. I am certainly not. I have expressed on numerous occasions that my price objective stands at $24.50. This objective was obtained using a method called a "parabolic extension," and it is within the body of knowledge known as technical analysis, which I employ to analyze the prospects of an investment.

For those who have not read any of my past work, technical analysis is a method of investment analysis that is based on the notion that historical price and volume data can be used to forecast what the future may bring. I use this method of analysis to create investment strategies because when it is applied appropriately, the results are simply outstanding.

The current bullish environment for stocks has created a rising tide, and like the saying goes, "a rising tide lifts all boats." This obviously does not apply for every investment in the universe, but as long as Advanced Micro Devices stock is trading above its 200-day moving average, this logic applies to it.

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