AMD Wave Five Targets $730 As Rally Could Extend Even Toward $800

AMD is trading sharply higher as the Nasdaq 100 and technology sector recover, with price now moving well beyond the previous swing high. This suggests that the recent correction may have completed in a fourth-wave triangle, without the deeper pullback toward the previous unfilled gap near $360. Instead, AMD appears to be advancing in wave five, which could be the final leg of the impulse from the April 2025 lows.

There is still room for further upside, with the first important wave-five target near $730 and the upper side of the channel around $800. However, as price approaches these higher targets, be aware of a potential slowdown. Once the five-wave Elliott Wave cycle is complete, we would normally expect a larger corrective phase.

Highlights:

• Fourth-wave triangle appears to be complete

• Wave five is now in progress

• First upside target: around $730

• Higher wave-five target: around $800

• Watch for a potential slowdown as wave five matures

• A larger correction may follow once the five-wave cycle is complete