Expected to report an EPS of $0.67 on revenue of $5.7bn

AMD’s stock currently trading at around $97.52 a share. We can see that its price has been trading within the downward channel drawn on the chart. This pattern began on the 13^th of June after the price tried pushing higher but closed below the opening level of the prior day. It has fallen 25% since. The price is trading in the lower end of the channel, it may perhaps try and head towards the upper half testing the resistance of $104.96 followed by the trendline resistance of $106.93. A break and close above $106.93 could be an indication that the downtrend has come to an end and the longer-term bullish trend has resumed. On the other hand, towards the downside, support sits at $93.12 and then at $89.65 (lower trendline of the channel). A break and close below $89.65 would be a strong indication that more downside is to follow with a potential fall towards the major support of $81.00 (white trendline). The technical indicators boost the bearish bias for the time being as both are negative, with the RSI reading 41.