AMD Stock Analysis: $390, $600 and $770 Levels to WatchAdvanced Micro Devices, Inc.BATS:AMDsdk-tradingAMD's business is still growing quickly, while its long-term stock chart has entered a different phase. Revenue increased 50% year over year in the latest quarter, Data Center revenue more than doubled, and AMD is guiding for roughly 41% year-over-year revenue growth next quarter. The fundamental backdrop remains strong. On the chart, however, AMD has already broken a long-term structure that had guided the stock for years. AMD's Long-Term Channel AMD spent most of its advance from the 2015 lows inside a large rising channel. Price tested the lower side of that channel in 2022, although that break was difficult to treat as decisive. The move in 2025 was much clearer, with AMD falling below the lower boundary before recovering sharply. The stock has since climbed back to new highs, but the old channel no longer provides the same support structure. That changes how I read the current AMD chart. The focus now shifts to the major price areas around the stock and to the structure of the recovery from the 2025 low. The Weekly AMD Structure The weekly chart shows the recent sequence in more detail. AMD peaked in 2024, fell into the 2025 low and then recovered strongly enough to move above the previous high. From an Elliott Wave perspective, that recovery can still develop further, although the stock is already trading much higher inside the current structure. AMD is now approaching an area where the next large move should become easier to read. The current price is around $456, with an important upper area near $600 and a lower boundary near $390. Those two levels define the part of the chart I am watching most closely. AMD Stock Analysis: $390 to $600 AMD is currently trading inside the $390-$600 area. Price has already reached as high as roughly $585, so the upper boundary has become relevant after the recent rally. A move through $600 would take AMD above the entire current price cluster and extend the recovery from the 2025 low. The lower side of the same area sits around $390. AMD can move considerably inside this range without changing the larger structure. A sustained move outside either boundary would carry much more information than the smaller fluctuations taking place between them. $600 — the main upper boundary of the current price cluster. $390 — the lower boundary that keeps the current structure intact. $770 — the next higher area from the current Elliott Wave relationships if AMD moves above $600 and holds there. $190-$260 — the next major lower cluster if AMD falls below $390 and remains below it. What Happens Above $600 If AMD makes another higher high, moves above $600 and stays above that area, the current wave structure leaves room for another leg higher. The next level I would watch is around $770. That area comes from the larger Elliott Wave relationships visible on the weekly chart. The behavior after the breakout will matter as much as the initial move above $600. AMD has already shown large swings during the last several years, including sharp reversals after strong advances. Holding above the upper boundary would give the move considerably more weight. What Happens Below $390 A break below $390 would change the current setup. The chart has relatively little major structure between that level and the next large price cluster around $190-$260. If AMD moves below $390 and remains there, that lower area becomes much more relevant. This would also mark a significant change from the recovery that began at the 2025 low. Until then, $390 remains the lower boundary of the structure I am following. AMD Levels to Watch AMD currently sits between two major levels. The stock has recovered strongly from its 2025 low and reached a new all-time high, while the long-term channel that contained the earlier advance has already been broken. The next useful information should come from price behavior around $600 or $390. Above $600, the current structure can extend toward the next major area around $770. Below $390, attention shifts toward the $190-$260 cluster. I will update the AMD analysis when price moves through one of these boundaries and shows that it can hold there.