AMD Elliott Wave Update: Bullish Impulsive Structure Extending

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