AMD Elliott Wave Update: Bullish Impulsive Structure Extending
By:TradingView
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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
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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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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