Advanced Micro Devices $AMD has been consolidation in a falling channel as we can see on the daily chart. (Looks like a flag pattern on the weekly chart. We recently noted that as price was approaching the channel resistance, to NOT rely on resistance.AMD Daily Chart(click to enlarge)Broken Resistance:- As we can see on the daily chart, price broke above the channel resistance and closed the week out at $13.00 a share.- The breakout is not that strong though, and doesn't have that pop in volume.- The RSI pushed above 70, which showed that there is strong momentum.- Now, if price does pull back, we should monitor for support in the $11.50-$12 area. A break below $11 would reflect a market that is still in consolidation.- A hold above $12 would be a strong sign that bulls are indeed back in charge. This scenario would put the $15.50 high back in sight. Long-term Chart Looks Bullish:- The daily chart shows the consolidation since early 2017 when price was rejected from $15.50. - We can see that during the consolidation, the RSI held above 40 for the most part, which reflects maintenance of that prevailing bullish momentum since 2016. AMD Weekly Chart(click to enlarge)