Elliott Wave Technical Analysis: Advanced Micro Devices Inc. - Thursday, Aug. 22

AMD Elliott Wave Analysis Trading Lounge Daily Chart,

Advanced Micro Devices Inc., (AMD) Daily Chart

AMD Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave (v).

DIRECTION: Upside in wave (v).

DETAILS: We are looking at a three wave move into what appears to be minuette wave (iv), especially as we keep finding support on top of 150$.

AMD Elliott Wave Analysis Trading Lounge 1H Chart,

Advanced Micro Devices Inc., (AMD) 1H Chart

AMD Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Micro wave 4 of i.

DIRECTION: Upside into micro wave 5.

DETAILS: Looking for completion of micro wave 4, as we have hit 1.618 3 vs. 1 at 159$. Looking for a top in micro wave 5 at ideally 180$.

Welcome to our latest Elliott Wave analysis for Advanced Micro Devices Inc. (AMD). This report provides a thorough examination of AMD's price action through Elliott Wave Theory, offering traders insights into potential market opportunities. We'll review both the daily and 1-hour charts to give you a comprehensive understanding of AMD's current market behavior.

* AMD Elliott Wave Technical Analysis – Daily Chart*

AMD appears to be progressing into wave (v), the final wave of the current impulsive sequence. The recent price movements suggest a three-wave correction into what is likely minuette wave (iv). Importantly, AMD has repeatedly found support around the $150 level, which reinforces the likelihood of continued upward momentum. The market structure indicates that wave (v) could extend further, with $180 being a possible target as the wave unfolds.

* AMD Elliott Wave Technical Analysis – 1H Chart*

AMD is in the process of completing micro wave 4, with price action having hit the 1.618 Fibonacci extension of wave 3 vs. 1 at $159. This level acts as a significant resistance area, but the current wave structure suggests that micro wave 5 could push the price towards $180, which is the anticipated top for this micro wave sequence.

Technical Analyst: Alessio Barretta

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