AMD (Advanced Micro Devices) slowed down recently after we identified five waves up with an extended wave three, so we are now tracking a wave four pullback. We think this correction could become a bit more complex and longer in time — especially when we compare it with wave two of the same degree.
In Elliott Wave Theory, fourth waves often take more time and develop more sideways or overlapping structure than second waves. That is why patience matters here: the 38.2% or even the 50% retracement can still be retested, particularly if we consider the open gap around the 360–394 area.
If you are looking to join the broader uptrend later, that support zone is a much better place to watch for potential rebound opportunities — while the bullish structure remains valid with AMD trading above the 267 invalidation level.
Quick reminder: in a five-wave impulse, wave four is the corrective pause after a strong wave three. It should not break the end of wave one (here reflected by the 267 invalidation). Until that level holds, the larger count still points to a later wave five advance once wave four completes.
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