AMD Elliott Wave update: Bullish impulsive structure extending [Video]

Gregor Horvat Wavetraders

AMD is showing a strong bullish continuation after completing a likely A–B–C correction near 187. The breakout above the 230 resistance zone signals a shift into a new impulsive phase.

Price action suggests the start of a larger five-wave advance from the March low, with momentum still favoring the upside. However, a short-term wave four pullback is possible, with resistance and potential reversal pressure building near the 470 region (261.8% extension level).

Key support sits in the 355–400 zone, which could act as a re-entry area during any corrective dip.

The bullish structure remains valid as long as price holds above 270. A break below this level would weaken the current impulsive outlook.

Key points:

Bullish impulsive structure from 187 low.
Breakout above 230 confirms trend shift.
Potential wave 4 pullback near 470.
Strong support: 355–400.
Invalidation below 270.

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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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