Shares are falling in what traders call a descending channel after seeing a strong bullish run higher. The stock now looks to be in a period of consolidation as it trades within the channel. A break above resistance or support may hint that a further move in the same direction as the break may be coming.
The stock is trading above the 50-day moving average but...
AMD obviously is in a uptrend, but right now we are seeing a little correction (possibly about 28%). I am positive that the current (possible) LH will lead to a drop to the support level (labeled), from there we could either see a 1)bounce or a 2)break.
1) Bounce:
... could lead to another LH which will extend to the red rectangle (resistance), followed by another...
