Advanced micro devices (AMD)-Update

Max Oen

23 Dec 2025 — 2 min read

1 day chart

Advanced micro devices has started its first moves into our anticipated long term corrective phase.

Advanced Micro Devices (AMD) has begun what we interpret as the initial phase of a larger, anticipated long-term corrective structure. From an Elliott Wave perspective, we expect price to transition into yellow wave 4, unfolding as a classic three-wave corrective pattern (A–B–C), labelled in orange.

The recent bearish sell-off appears to have initiated orange wave A. This wave is expected to complete within our first Fibonacci retracement cluster, highlighted in neon green. This zone spans from the 38.2% retracement at $194.62down to the 50% retracement at $172.09. AMD has already tested this retracement area once; however, a secondary revisit remains technically valid. Upon completion of orange wave A within this zone, we anticipate a corrective rebound in the form of orange wave B.

Following the termination of orange wave B, we expect a decisive bearish sell off—orange wave C—which should complete the broader yellow wave 4 correction. This final sell-off is projected to extend into our second Fibonacci retracement zone, ranging from the 50% level at $134.34 down to the 61.8% retracement at $103.01. Within this deeper retracement cluster, we expect bearish momentum to exhaust, marking the end of yellow wave 4 and the beginning of a new long-term bullish impulse sequence.

Trading Plan:

Given this wave structure, our Fibonacci retracement zones represent strategic accumulation opportunities rather than areas of immediate trend continuation. Our higher-timeframe analysis strongly supports this Elliott Wave count and reinforces the significance of these retracement levels.

Accordingly, our short- to medium-term bias remains bearish until price reaches at least the first Fibonacci retracement zone, with a strongly bullish bias emerging upon entry into the second zone. This latter region is our preferred area for long-term positioning and accumulation.

Should AMD reach any of the outlined Fibonacci retracement zones, or should meaningful structural or wave-count changes occur, we will provide an immediate update.

Kind regards,

Monalytics

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