AMD 's RSI has been decreasing since 2016 December, and its price seems to have formed a head and shoulders pattern. It had some serious price drops with large volume after its left shoulder and head, breaking the 50 day moving average. After forming the right shoulder and undercutting the 50 MA, it showed a churning day ( high volume during the day, but no significant price progress), couldn't retake the moving average and continued with a definitive downward move. It found a significant support around the 9 level, which if it breaks, it could correct until the 6 level (-30%) since it is the next significant support. If it continues moving higher from the 9 support, the 50 day MA, the yellow trendline and the purple trendline are acting as resistance, which it would have to show significant volume upwards for the trend to change. As long as these levels hold, the trend is still downward.