AMD has been in selloff mode since the high at 12.42 made on 12/28/2016. It has been 13 trading days since the top. It traveled from 12.42 to 9.42, about 24% decrease. Today’s drastic rally from 9.42 indicates strong support from this level. 9.42 is between 38-50% retracement of the weekly cycle. It is in an ideal location for a band of support if AMD is to continue the bullish posture. The weekly cycle started on the week of 9/16/2016. It will be 18 weeks by this Friday. The weekly bottom could be extended to Jan 20-Mar 3, 2017. AMD’s earnings report will be on Jan 31, 2017. So the current weekly cycle could be sideways down until then. The earnings report could be the external catalyst needed for AMD to rise out of the weekly bottom. We have to wait and see how it behaves around that time. The potential downside target could be 9.23 or 8.00. Both are prior important swing highs.