AMD Elliott Wave technical analysis [Video]

AMD Elliott Wave technical overview

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave (v) of {iii}.

Direction: Potential Top in Wave (v).

Details: A possible top is forming in wave {iii} as price nears the Minor Group 2 zone at $180.

On the daily chart, Advanced Micro Devices Inc. (AMD) is in the late phase of an impulsive wave cycle, with wave (v) of {iii} progressing toward its potential conclusion. Price action is approaching the $180 level, which coincides with the anticipated end of Minor Group 2.

While the overall trend remains upward, this area may mark a near-term high. A break or reversal here would indicate the end of wave {iii}, setting the stage for wave {iv} to develop as a corrective pullback. Traders should monitor this level closely for signs of trend fatigue or reversal.

AMD Elliott Wave technical overview

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave (V) of {v}.

Direction: Possible Top in Wave (v).

Details: A conservative count suggests final movement in wave {v} of 1 is nearing completion.

The 1-hour chart provides a shorter-term look at AMD’s wave structure. The stock is currently unfolding wave (V) of {v}, signaling the final push within wave {v} of 1. This structure implies a near-term top may be imminent.

The chart supports a conservative interpretation, where after this final wave concludes, a correction in wave 2 may begin. Price action near the $180 mark should be observed for potential reversal cues, offering an opportunity to prepare for the next wave sequence.

AMD Elliott Wave technical overview [Video]