Peter Smith
⬤ AMD looks set for more upside based on Elliott Wave analysis tracking its cycle since early July 2025. The stock appears to be moving into wave ((5)), which would signal continued strength—assuming last week's low stays intact. The latest 4-hour chart shows a constructive path forward, and the broader trend remains positive.
⬤ The key risk here is simple: if AMD breaks below last week's low, the wave count falls apart. That could trigger a sharper pullback and cool momentum across the semiconductor sector. If that happens, expect higher volatility, pressure on leveraged positions, and a hit to confidence in high-growth tech stocks. A sector-wide slip could also mean tighter budgets, hiring slowdowns, and even talent leaving as companies pull back on expansion.
⬤ The current outlook still favors buyers. The analysis emphasizes that selling isn't recommended right now—the impulsive wave structure is still in place. The 4-hour chart shows a clean five-wave move up, followed by a correction and a fresh push higher, all consistent with the early stages of wave ((5)). As long as AMD holds above the key support level, the bias stays bullish.
⬤ If AMD successfully moves into wave ((5)), it could reignite interest in semiconductor stocks, boost sentiment around AI-related names, and lift valuations across the sector. But traders need to stay alert—if price drops below last week's low, the bullish case weakens significantly, and focus would shift back to broader market fragility.
Peter Smith
