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AMD: Elliott Wave Structure Calling for Another Multi-Year Cycle

Advanced Micro Devices (AMD) which is a multinational semiconductor company.
ElliottWave-Forecast has built our reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Swing sequences, Distribution system and the Right Side system which consists of Right Side tags to inform clients of what side of the market should be traded and blue boxes to show areas for buying / selling. We provide precise forecasts with up-to-date analysis for 78 instruments including Forex, Commodities, ZN (10 year note yields), World Indices, Stocks, ETFs and Bitcoin.
ElliottWave-Forecast has built our reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Swing sequences, Distribution system and the Right Side system which consists of Right Side tags to inform clients of what side of the market should be traded and blue boxes to show areas for buying / selling. We provide precise forecasts with up-to-date analysis for 78 instruments including Forex, Commodities, ZN (10 year note yields), World Indices, Stocks, ETFs and Bitcoin.

Advanced Micro Devices AMD, the multinational semiconductor company, is following the overall structure of other world indices. The stock is trading within a corrective sequence within the Grand Supercycle degree. From its all-time low, it rallied and made a major peak in early 2000, which can be also seen in many world indices. Since then, it has been sideways to lower, ending the 3 waves decline in 2015.

The chart below represents our view on AMD based on the Elliott wave theory. We believe that the stock is doing an Elliott wave Double Three structure within the Grand Supercycle. At this moment, we should be in the 6th swing, after which it should resume higher in the 7th swing ideally. Therefore, it can be bought in 3-7-11 swings for more upside as a long-term investment into the Grand Supercycle. The target should be at around the $50.12 area.

AMD 03.19.2019 Quarterly Elliott Wave Analysis

AMD

In the weekly chart below you can see that AMD reached the 61.8% area within the Grand Supercycle and peaked at around the $34.00 level within our Blue Box area, a highly technical zone where a pullback was expected to take place. From $34.00, the stock already completed a 3 waves pullback, hitting a marginal new low at around $16.00, which is why the stock can still be doing a connector in ((X)) before more downside in wave ((Y)) of red X should be seen. Therefore, we do not recommend selling AMD. Rather we recommend buying the dips in the sequences of 3-7- or 11 swings into the Grand Supercycle target, as the right side is to the upside which you can see below.

AMD 03.19.2019 Weekly Elliott Wave Analysis

AMD

Now let’s take a step further and compare it to the $UKX-FTSE monthly chart. As you can see below it is easy to identify the map and the right side based on the FTSE, as the Index has an incomplete sequence to the upside – which is confirming more upside.

The following charts highlight their sequences. We want to explain that the numbers in the charts are not Elliott Wave counts. They are called swing sequences, and those are a natural part of the market. As we can see, both Grand Supercycles are incomplete, and both need ideally another multi-year cycle higher. However, the $UKX-FTSE is confirming the need of another swing higher in Blue into the 10,313 area, which should come at the same time as AMD reaches our $50.12 target. As you can see, it is very technically appealing, defining the main trend better and easier, which results in a possible long term buying opportunity.

FTSE vs AMD Monthly Sequences Analysis

AMD

We at Elliottwave-Forecast, have learned to read the market as a whole and consequently, we are able to provide members with the sequences and the right side of the trade, resulting in profitable trading investment ideas. Knowing the right side and knowing when to enter and exit in each time frame is key to success.

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