AMD Weekly Harmonic Elliott Wave Analysis
Hi everyone,
Overview: AMD has been on a rally since July 5th. As usual, I go a little back into my previous analysis to set the foundation for the new update.
July 4th: "From the all-time-high of Nov. 30th 2021, AMD has completed 2 zigzags as waves (W) and (Y). From this point, I am expecting a rally to retest some portion of (Y) and then the final leg down as another zigzag , wave (Z). We need to wait for wave (X) to develop its initial subwaves to come up with an idea of its potential targets."
July 17th: "we were almost perfectly accurate noticing the bottom. As I mentioned in that update, now that we have some part of wave (X) developed, we have an idea of what form of correction is in play. Wave (X) is developing as a double zigzag , with W and X complete."
July 23rd: "Potential targets for wave (X) peak (~93.9)."
July 31st: "I expect Monday Aug 1st to be a topping candle on AMD , probably a fake breakout of the black trendline on decent volume . Lets look at the hourly chart: the second zigzag of wave (X), named wave C is near completion. Potential targets for wave (X) top (95-98)."
August 7th: "the breakout of the trendline actually happened on high volume , however, AMD was a little bit stronger than I expected in this week. I believe based on the hourly count, we are very close to the completion of wave (X), maybe we need a last push."
Update: I believe that AMD has topped and going lower for the last bearish leg, wave (Z). Let's take a look at the hourly chart to have an idea of the structure of wave (Z): a decisive breakdown of the bullish channel can be considered as the ultimate confirmation of this count.
Overview: AMD has been on a rally since July 5th. As usual, I go a little back into my previous analysis to set the foundation for the new update.
July 4th: "From the all-time-high of Nov. 30th 2021, AMD has completed 2 zigzags as waves (W) and (Y). From this point, I am expecting a rally to retest some portion of (Y) and then the final leg down as another zigzag , wave (Z). We need to wait for wave (X) to develop its initial subwaves to come up with an idea of its potential targets."
July 17th: "we were almost perfectly accurate noticing the bottom. As I mentioned in that update, now that we have some part of wave (X) developed, we have an idea of what form of correction is in play. Wave (X) is developing as a double zigzag , with W and X complete."
July 23rd: "Potential targets for wave (X) peak (~93.9)."
July 31st: "I expect Monday Aug 1st to be a topping candle on AMD , probably a fake breakout of the black trendline on decent volume . Lets look at the hourly chart: the second zigzag of wave (X), named wave C is near completion. Potential targets for wave (X) top (95-98)."
August 7th: "the breakout of the trendline actually happened on high volume , however, AMD was a little bit stronger than I expected in this week. I believe based on the hourly count, we are very close to the completion of wave (X), maybe we need a last push."
Update: I believe that AMD has topped and going lower for the last bearish leg, wave (Z). Let's take a look at the hourly chart to have an idea of the structure of wave (Z): a decisive breakdown of the bullish channel can be considered as the ultimate confirmation of this count.
