Advanced Micro Devices $AMD has been retreating sharply. Earlier in October I assessed downside risk towards the $20 area.Advanced Micro Devices (AMD) Finally Taking a BreatherHowever, price has fallen way below $20, almost tagging $16 this week before a brief rebound.I think AMD is now approaching key support and should find buyers in the $14-$16 area, but possibly sellers as well at the $20 area. AMD Daily Chart(click to enlarge)Sharp Pullback and Support:- First of all, let's acknowledge that AMD was hyped up too much in 2018. - After breaking a period of consolidation by mid-year, price surged roughly 100%. - We are now seeing a pullback to the breakout point from earlier in the year. - For someone bullish on AMD, this sharp pullback is healthy and provides a much better entry point.- And at the end of the day, the overall market since 2017 is still bullish as we can see on the weekly chart.- In fact, support here above $14-$16 would confirm the bullish mode, though we will likely NOT see another swing like the one in 2018. - Below $14, then we are might see AMD going to $10 before significant support.AMD Weekly Chart(click to enlarge)