In my previous updates I discussed how AMD has lost support in the light blue channel, and has really struggled to climb back into the channel. Despite this bearish price action, AMD is also starting to build some support around $133 at the white trendline. I think there’s a chance AMD has a brief rally up to the light blue trendline around $170 for a quick trade. However, the seasonality trend is not very favorable for semis like NVDA and AMD in the month of December. AMD has less than a 30% chance of being green in December. I still think the trade could work out, I would go long around $132.96 and would put a stop loss around $132.60 just in case if there is a selloff.