Advanced Micro Devices (AMD) has been choppy but bullish since May. Price action in 2017 can be considered neutral-bullish because it did continue a prevailing trend, but has been consolidating since peaking at 15.60. We saw a recent rally again retreat from 15.60, so AMD remains in the sideways mode. However, if it can now pivot above 12.40, we should anticipate a subsequent break above 15.60. AMD Daily Chart(click to enlarge)Bullish-Neutral:- We should first remind ourselves that AMD has been bullish coming into 2017, and that the overall uptrend is still intact. - We are seeing some sideways action, but note that price has returned back above 200- and 100-day simple moving averages (SMAs), and the RSI has pushed back above 70 in June. Now it is still above 40, which means that bullish momentum since May is still intact. Support:- Now, the RSI is approaching 40, so if the market is indeed bullish, we should see price find support and turn up soon, preferable around 12.50. - There is a support pivot around 12.40, that should serve as an anchor for the bullish mode.- A break below 12.00 would reduce the bullish prospect and put AMD back in the context of a sideways consolidation with downside towards 10.00. - Even then, as long as price is above 10.00, AMD is neutral-bullish. A break below 10.00 on the other hand would complete a double top and open up a bearish reversal scenario with at least 7.00 in sight.