AMDAdvanced Micro Devices, Inc.NASDAQ:AMDContraryTraderLooking for a drop from 540 to 450 by 7/17 .. Chips look terrible in general starting with their sectors SMH SOXX $Soxl. Monthly candle is outside it's Bollinger band and RSI is curling over +70 Weekly candle From June 22 closed with a bearish engulfing Weekly RSI is heading down while candles are heading up (Bearish divergence). If the markets bounce early I'm looking for a short near the 540-545 which is the 5/10 moving average resistance So 540 is the best short entry The next best short entry is below 498 My target is the 452 gap close but keep in mind of the 50ma at 460.. Best short entry 540-545 Stop loss 550 Safest entry below 498