Advanced Micro Devices $AMD has been on a choppy ride since finding strong resistance around $15.50 a share, twice. AMD Daily Chart(click to enlarge)Falling Channel - Missed the Support:- First of all, the support of the channel on the daily chart above is simply a parallel of the channel resistance.- Based on this projected channel support, price missed it when AMD held above $9 a share.- This is only a very subtle sign that bears are NOT in charge.- Furthermore, the fact that the RSI pushed to almost 70 tells us that there is no bearish momentum.- Also, price came back above the 200-, 100-, and 50-day simple moving average (SMA), which is a sign that bulls could be back in control.- Basically, these are signs that warn us about relying on resistance if price approaches the $12.50-$12.75 area. - If there is a pullback, see if the $11 area will hold as support. Doing so would increase the chance that price will break above the channel, and will push towards the $15-$15.50 highs from 2017.