Advanced Micro Devices (AMD)
This chart illustrates AMD’s long-term Elliott Wave count.
Since its inception, AMD has completed its first major impulse, labeled yellow wave 1, followed by an extended corrective phase into yellow wave 2 that lasted nearly three decades (1985–2016). After finalizing yellow wave 2, the stock initiated a new impulsive advance, unfolding a green five-wave sequence that carried AMD into yellow wave 3. This yellow wave 3 currently marks the stock’s all-time high.
At present, we consider yellow wave 3 to be complete, and we expect AMD to be in the process of correcting this advance through yellow wave 4. Once yellow wave 4 concludes, the stock should begin its final impulsive leg—yellow wave 5—bringing the entire yellow cycle to completion.
To outline the probable termination range for yellow wave 4, we have defined a Fibonacci retracement zone in which we anticipate AMD’s corrective structure to bottom. This zone spans from the 38.2% level at 165.61 USD, the 50% level at 134.29 USD, down to the 61.8% level at 102.98 USD. Within this region, we expect bearish momentum to fade and a transition into renewed bullish impulsive behavior, initiating the final advance into yellow wave 5.
This long-term support area also aligns strongly with our short-term Elliott Wave count, which offers a more detailed and precise structural breakdown of AMD’s ongoing price action.
AMD has successfully completed yellow wave 3 and has now entered its corrective phase into yellow wave 4. We have identified a local support level at 227.30 USD, highlighted in red. Should this level break, we expect AMD to lose its current price structure and extend the decline into our defined Fibonacci retracement zone.
Trading Plan:
If AMD reaches our retracement zone, we remain strongly bullish on the stock. This region represents a prime long-term accumulation opportunity before AMD resumes its upward trajectory. From there, we expect the stock to regain bullish momentum and position itself for new all-time highs as it progresses into yellow wave 5.
We remain bullish!
We will continue to update you should any structural changes emerge, and we will clearly outline whether our current analysis remains valid or becomes invalidated.
