![Advanced Micro Devices Inc. (AMD) Elliott Wave technical analysis [Video]](https://editorial.fxsstatic.com/images/i/car-industry-02_Large.jpg "Advanced Micro Devices Inc. (AMD) Elliott Wave technical analysis [Video]")
AMD Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave (iii) of {iii}.
Direction: Upside in wave {iii}.
Details:
The daily chart shows AMD continuing its upward move, progressing within wave (iii) of what is likely Minute wave {iii}, or possibly wave {c} in a conservative view. The structure indicates ongoing bullish pressure, with a projected move toward the Medium Level near $150. This target serves as the next key resistance level to monitor.
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave iii of (iii).
DIirection: Upside in wave (iii).
Details:
On the 1-hour timeframe, AMD is showing accelerated upward movement within wave iii of (iii). The wave count includes nested third waves, reinforcing the strong bullish momentum. A Fibonacci projection places the 1.618 level of wave (iii) compared to wave (i) at approximately $135, marking a near-term resistance and price objective.
This analysis highlights AMD’s bullish wave formation across both the daily and hourly charts, suggesting ongoing strength in the current trend and outlining specific price levels for traders to monitor.