AMD – Advanced Micro Devices

This is a 3 year weekly chart for AMD in LOG scale. I use log scale over long periods of time to sometimes illustrate wave patterns. Log scale helps to sometimes see the pattern better.

This Elliott wave breakdown suggests that AMD has completed an entire 8 wave cycle and is ready to start or has started another Impulse wave pattern. AMD appears to have had an Expanded Flat wave pattern develop for its corrective wave pattern. In an Expanded Flat Wave pattern, Wave B actually goes higher than the top of Wave 5. This type of corrective wave pattern is seen after strong uptrends, which AMD had.

It appears now is the time to get long again AMD. The Elliott wave breakdown would be negated with a $9.69 print, which I do not anticipate happening.