To The Moon

$Advanced Micro Devices(AMD)$ stock has continues its assent after making a significant big move in November, we have seen AMD reaching a new 52-week high. This might make many of us think that AMD could continue to rally. But is it the case?

We need to understand that the AMD continued upside is not because of AI-related news, there are also other macro-related catalyst which could sometimes be short-lived, so we might get a pullback at times.

In this article, I will be sharing my prediction for the last 5 trading days for AMD and also monthly stock price prediction as we enter 2024 for period of January to June 2024.

AMD Daily Stock Price Prediction For 22 Dec to 29 Dec 2023

AMD close at $139.91 on 21 Dec, and the model is predicting AMD to present a minimum of $126, maximum of $148 for 22 Dec (Friday), with close price predicted to be around $137.

After the holiday, on 26 Dec, we are looking AMD to close around $143, with a minimum of $132 and maximum of $154. This would be a good surge from previous week.

On 27 Dec, we should continue to see AMD closing at $144, with a minimum of $132 and maximum of $156, this is just a slight increase from previous day. On 28 Dec, however, we should expect AMD to close at $151, with a minimum of $139 and maximum of $163.

Whereas on 29 Dec, the model expect AMD to have a slight decline to close at $149, with minimum at $137 and maximum to come in at $161. The reason might be due to profit taking before we move into 2024.

AMD Monthly Stock Price Prediction For January to June 2024

AMD is expected to start January 2024 with a price at $134, with low at $122 and high at $153, before closing the month at $133, giving a negative -0.70% for January.

Things start to improve in February 2024, as AMD is predicted to open the month at $133, with a low of $133 and a high of $161 for the month, before closing at $149 with a percentage change of 12.0%.

AMD continue the ascend in March 2024 after opening at $149 with month low at $144, high at $170, before we see AMD close at $157 at end of month giving a percentage change of 5.4%.

We are expecting a decline for AMD in April 2024 where AMD open at $157 before closing at end of the month at $147, getting a negative -6.4%. The month low stand at $135 and high at $159.

AMD begin to recover slightly in May 2024 after opening at $147, with month low at $138, and high at $162. AMD close May 2024 with a 2.0% change at $150.

AMD should continue the ascent in June 2024 after opening at $150 with a month low of $143 and high of $167, before closing with a change of 3.3% for June at $155.

AMD seem to be trading in a rather volatile situation in 2024, as there might be some macros that could affect its performance.

Summary

Based on the prediction data, we might need to look beyond the AI competition for AMD with $NVIDIA Corp(NVDA)$ , there are other macros factor that could help to catalyst AMD, or some headwinds while AMD navigate with its new chips.

The geopolitical tension is not over yet, and it should be ongoing, how much could this impact AMD remain to be seen.

I will be updating this prediction when there are some major events or news affecting the results.

Appreciate if you could share your thoughts in the comment section whether you think AMD would be trading pretty volatile in 2024 while it navigate a challenging geopolitical environment?

@TigerStars @Daily_Discussion @Tiger_Earnings @TigerWire appreciate if you could feature this article so that fellow tiger would benefit from my investing and trading thoughts.

Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.