Time period for this play : week to months
Analysis : Elliot wave 12345 ABC. Expect hitting .618 and bounce back up to go higher.
Pattern if wave B completed : Head & Shoulder
Price Target: Wave ABC
ETA Timeline for correction. Please refer to the chart.
Upcoming events:
Tariff active on 8/1/25 - Friday
Earning on 8/5/25 - Tuesday
Top is not in yet, so 2 Possible top-in levels:
Top 1 - $163.45 : Retesting to hit 163.45, rejected, and break $158
Top 2 - $173.94 : Breaking 163.45 and reject at 173.94
=> Overall, It begins trading side way and show some weakness now.
The correction may not pull back to .618, which is the best level. Other scenarios:
- 0.5 fib, where it test wave 3
- 0.328 fib, strong bullish level if it doesn't break & go to the upside faster
Analysis : Elliot wave 12345 ABC. Expect hitting .618 and bounce back up to go higher.
Pattern if wave B completed : Head & Shoulder
Price Target: Wave ABC
ETA Timeline for correction. Please refer to the chart.
Upcoming events:
Tariff active on 8/1/25 - Friday
Earning on 8/5/25 - Tuesday
Top is not in yet, so 2 Possible top-in levels:
Top 1 - $163.45 : Retesting to hit 163.45, rejected, and break $158
Top 2 - $173.94 : Breaking 163.45 and reject at 173.94
=> Overall, It begins trading side way and show some weakness now.
The correction may not pull back to .618, which is the best level. Other scenarios:
- 0.5 fib, where it test wave 3
- 0.328 fib, strong bullish level if it doesn't break & go to the upside faster
Note
***** Please Note that fib .618 is an ideal level, not a guarantee. The most possible retracement is .382 Trade active
Next target for the downside at $147. Perfectly taking profit at 149.5Note
AMD closed and hold the support nicely today. If it retraces to the upside, meaning top is not in yet. Levels to watch:
Call : breaking 157.8 to test 164-170 ish area
Put : breaking 149.5 to test 147-140 ish area
Note
AMD nicely goes to the upside. If it keeps the strength, next target is 185Note
Levels to watch:A small correction might happen this Friday before testing the big resistance at 187. I strongly believe it can run to 187 due to earning and the hype next week.
Put: Breaking 174 to test 169-162
Call: Breaking 180 to test 182.22-187.5
Note
Levels to watch (08/4/25-08/08/25) - Earning week.Put: Breaking 167 to test 162.5. Monitor price movement at 162.5 if it rejects strongly when retraces to the upside -> Top is in and expect to play the B-C correction wave.
Call: Breaking 178 -> 182.5 -> 187.7. If 187.7 is not breaking, expecting top in.
Note
Levels to watch (08/11/25-08/15/25) - Sadly top hasn't been in yet as it bounced from the EMA 20 perfectly. However,It has been battling to pass the resistance at 175.7 for 4 days, and another resistance is 177.7
Put: break down 167 -> PT 162.5. At this level, AMD shows more sign of weakness.
Call: breaking 177.7 -> PT 187.7
Note
AMD run is still resilient, if it breaks 187.7 it will send AMD to 205 to fill the gap.- Keep an eye on support line 180. If it breaks, it shows weakness and become a false breakout.
- If it breaks out the resistance 185.95 -> 187.7 -> 193 -> 205
Note
Top is in as AMD has been trading sideway for more than 1 week, creating a bear flag in 4hr chart. In daily chart, it can’t close above EMA 20. Looking for a downside continuation
Levels to watch
- if it breaks down 162 => price target is 150-148
- If it closes above 168.8 => showing signs of going back up to retest 187
Note
New levels for AMD since the top is near to the current resistance at $187.7. Pattern is the same as the chart, just different price targets.PT1: $153.2
PT2: $148
PT3: $134.2 (possible & this level is a very strong demand zone)
Note
PT1 hit 
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.