AMD Elliott Wave Analysis: 5 Wave Rally Supports Bullish BiasAdvanced Micro Devices, Inc.NASDAQ:AMDElliottwave-ForecastSince bottoming out on April 10, 2025, Advanced Micro Devices (AMD) has embarked on a robust rally, signaling a bullish trend. Technical analysis reveals a five-swing sequence from the April 10 low, favoring continued upward momentum. The initial ascent, wave (1), peaked at $97.91, followed by a corrective pullback in wave (2) that found support at $83.75. The stock then surged in wave (3) to $122.52. A subsequent retracement in wave (4) concluded at $107.10, as depicted in the one-hour chart below. Currently, wave (5) is unfolding, structured as an impulse in a lesser degree, driving the stock higher. From the wave (4) low, the subdivision of wave (5) began with wave ((i)) reaching $117.05, followed by a dip in wave ((ii)) to $108.62. The rally resumed in wave ((iii)), peaking at $119.40, with wave ((iv)) retracing to $114.25. The final leg, wave ((v)), concluded at $124.60, completing wave 1 of a higher degree. A corrective wave 2 unfolded as a zigzag, with wave ((a)) declining to $119.88. Wave ((b)) rebounded to $121.35, and wave ((c)) bottomed at $115.06. As long as AMD holds above $107.10, expect one more upward leg to complete wave 3. Then it should be followed by a wave 4 pullback and a final push in wave (5) to conclude the cycle from the April 10 low. This structured advance underscores AMD’s bullish outlook, with key support levels guiding its near-term trajectory.