The first chart pattern is the descending that began on January 11. It was resistance a week later, but yesterday AMD closed above it for the first time.
Next, AMD has spent the last two weeks building support around $87.50. This approximate area gained importance around August 6 when the previous rally faded. It was resistance again in October and November.
Third, is starting to turn positive.
Finally, prices are trying to fight back above the 50-day ( ), which could also suggest the uptrend is resuming.
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