AMD reporting earnings after the US market closes. Analysts expect an EPS of $0.56 on revenue of $5.3bn

Taking a quick look at Advanced Micro Devices as the company is expected to report its earnings after the US market closes. Currently its stock is trading at around $88.24 a share, we can see on the 4-hourly timeframe that since the 23^rd of March the price has been in a bearish trend. It has recently tried to break out of this trend but the resistance along the descending trendline seems overpowering at the moment. Resistance sits at $88.72 (along the white trendline) followed by levels at $90.28 then at $91.36. A break and close above $91.36 could suggest that a bearish trend is starting to form. Towards the downside, support sits at $86.45 followed by $85.24. A dip below these levels may see the price slide further towards the key support along the green trendline ($83.63). Looking at the technical indicators, MACD is still positive but looks like its volume is weakening and RSI is neutral as it reads 50.