TradingKey -Advanced Micro Devices (NASDAQ: AMD) closed the week on Friday, July 17, with the stock trading just beneath $500 after slipping below its uptrend line and the critical $501.50 support level on the two-hour chart. That puts shares down roughly 17% from their high of $584.73 set on June 30. Meanwhile, both the 50-period and 200-period EMAs (at $526.68 and $520.65 respectively) remain over the stock to confirm short term bearish pressure.

RSI was somewhere in the range of 29 to 34, indicating deep selling. And the week ahead will host the key AMD catalyst for the year: July 22-23 Advancing AI 2026, when Zen 6 Venice EPYC ships on TSMC 2nm, and when the MI455X roadmap gets updated. A confirmed close over $501.50 next week will…