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Elliott Forecast

Eric Morera

Elliott Wave View: Further Downside in AMD Expected

July 1, 2022 By

Short term Elliott Wave view in AMD suggests the decline from 6/6/2022 high is unfolding as a 5 waves impulse Elliott Wave structure. Down from 6/6/2022 high, wave (1) ended at 79.43 and rally in wave (2) ended at 88.61. Internal subdivision of wave (2) unfolded as a . Wave A of this zigzag ended at 86.38 as the chart below shows. Pullback in wave B ended at 80.23, and final leg wave C ended at 88.62 which also completed wave (2).

Wave (3) lower is in progress with subdivision as an impulse in lesser degree. Down from wave (2), wave ((i)) ended at 85.25 and rally in wave ((ii)) ended at 87.91. The stock extended lower in wave ((iii)) towards 75.48, and rally in wave ((iv)) ended at 78.50. Final leg lower wave ((v)) is expected to complete wave 1, and then the stock should rally in wave 2 to correct cycle from 6/27/2022 high before the decline resumes. As far as pivot at 88.62 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside. Potential target lower is 100% – 123.6% Fibonacci extension from 11/30/2021 high which comes at 53.5 – 68.7 area.

AMD 45 Minutes Elliott Wave Chart

AMD Elliott Wave Video

Source:-forecast.com/news/elliott-wave-view-downside-amd-expected/

#elliottwave #trading #AMD

01/07/2022 1 EN

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Elliott Forecast

Elliott Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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Eric Morera

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