AMD - BEARISH - Technical Analysis

My technical analysis for AMD and why I am Bearish on the stock

My thought process/indicators:
Price is re-testing the resistance zone of $90
AMD has been in a downtrend since NOV/2021
Price is rejecting the Parallel Channel
TMA-RSI indicator is showing overbought

My trading goal (R:S=2,5)
Wait for the price to break below the 89.44$ resistance zone
Wait for closing 4hr candle before shorting
STOP loss set up higher than the ATR of 5.20
Stop loss target : $92
Set Profit target: $74.50

As always, I am open to suggestions and comments, let me know what you think.
Cheers and happy trading!