AMD - ReversalNASDAQ:AMD AMD has been in a strong downtrend for the last 5 months staying within a defined channel. It has reached a key support level at $100 from the end of 2023 and is down over 50% from all-time highs. I believe we will see a little bit of consolidation here over the next week or two then a breakout of the channel. I have started a long position at this level and will add to the position when it breaks out of the channel as a confirmation of the move. Target is the overhead resistance at the $128-$130 level and the Stop Loss is set at $86.6 for a roughly 1:2 R/R on the trade.