AMD approaches wave III completion as potential wave IV pullback could emerge [Video]

Gregor Horvat Wavetraders

AMD remains in a strong bullish sequence, with the rally from the April low unfolding in a clear impulsive structure. However, the five subwaves up from the 187 low suggest that the current cycle may be approaching exhaustion, with a potential finishing wedge pattern forming within wave 5 of III.

If AMD completes this wave III structure, a higher-degree wave IV correction could follow. The key support area to watch is between 360 and 436, where a deeper pullback could provide an attractive opportunity to join the broader uptrend.

The bullish outlook remains valid as long as price holds above the 270 invalidation level. The weekly chart also continues to support a larger wave five advance, but a corrective wave IV pullback may be needed before the next major leg higher.

Highlights

Bullish impulsive structure developing from the 187 low, with wave III nearing completion.
Potential wave IV support area between 360 and 436.
Bullish scenario remains valid above the 270 invalidation level.

For a detailed view and more analysis like this, you can watch our latest recording below, streamed on July 13:

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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