From TradingView · · 1m
AMD Wave 3 Extension Near Completion
AMD's price may complete its bullish Wave 3 extension before a correction begins.
In brief
AMD's price may complete its bullish Wave 3 extension before a correction begins. AMD's stock price could finish a strong upward wave before a correction phase starts. Originally reported by TradingView.
AMD's price moves higher
AMD's impulsive move higher continues to fit our bullish Elliott Wave structure.
Price nears Wave 3 completion
The sharp acceleration through $600 suggests the market may currently be completing Wave 3 of (3).
Potential final push higher
If this count holds, we could see one final push higher to complete the broader Minor (3) before momentum begins to cool.
Key correction phase
From there, the key setup would be a Wave (4) corrective phase.
Consolidation expected
This would be viewed as a healthy retracement within the larger bullish structure rather than an outright reversal.
Next potential move
Once Wave (4) completes, the structure leaves room for another impulsive leg higher in Wave (5), with the broader roadmap still pointing towards the $750, $775 region.
The bottom line
AMD's stock price could finish a strong upward wave before a correction phase starts.
