By Bret Kenwell AMD stock broke out on Thursday, but its shallow dip is giving buyers a second chance to go long. I have been watching Advanced Micro Devices (AMD) – Get Advanced Micro Devices, Inc. Report all week, hoping to see a potent monthly-up rotation over the May high. We got just that on Thursday, as the shares jumped 7.3% on the day. It helped lead a rally in chip stocks, as Nvidia (NVDA) – Get NVIDIA Corporation Report also did well, gaining 6.9%. (Here’s the Action Alerts PLUS team’s take on Nvidia, by the way). AMD stock not only rotated over the prior month’s high, it also held a…