AMD concludes three swing Elliott Wave correction [Video]

Advanced Micro Devices Inc. (AMD) achieved an all‑time high of $267.08 on 29 October 2025. Following this peak, the stock began a larger degree pullback that unfolded in a classic three‑swing zigzag Elliott Wave structure. From the October high, wave ((A)) concluded at $194.28, while wave ((B)) retraced upward to $266.96. The final leg, wave ((C)), moved lower and ended at $185.18, as illustrated on the one‑hour chart. This sequence completed wave II at a higher degree, marking the end of the corrective phase.

The corrective nature of the pullback was evident, consisting of three distinct swings. Importantly, the decline terminated within the 100% to 161.8% Fibonacci extension of wave ((A)), a common zone for corrective completions. Since the third leg did not extend to the full 161.8% level, the implication is that the broader market bias remains bullish. From the wave II low, AMD initiated a fresh impulsive advance. Wave 1 reached $209.21, followed by a modest pullback in wave 2 that ended at $192.27.

The next target lies near the 161.8% Fibonacci extension of wave 1 at $230. A sustained move toward this level would strengthen the case that the rally from $185.18 represents wave 3 of a developing impulse. In the near term, as long as the pivot at $185.18 holds, expectations favor continued upside. The structure suggests that AMD has completed its correction and is positioned for further gains, reinforcing the bullish outlook.