$AMD Elliott Wave Forecast: Reaction Higher From Blue Box Support

In this Elliott Wave update, we look at the latest price action in Advanced Micro Devices Inc. ($AMD). The stock extended lower into the short-term blue box area at 312.17–296.13 and ended the cycle from the 4/27 peak. As expected, buyers appeared in that zone and triggered a reaction higher. Therefore, longs from the blue box can now look to get risk free.

5 Wave Impulse + ABC correction

$AMD 1H Elliott Wave View April 28, 2026

$AMD turned lower in a corrective sequence and reached the blue box at 312.17–296.13, where sellers were expected to lose control. Once price entered that area, buyers stepped in and delivered the expected bounce. This reaction confirms the blue box once again worked as an important support zone.

As the market has already reacted higher, traders who bought the blue box can now manage the position by getting risk free. In other words, they can reduce exposure or move stops to breakeven while allowing the trade room to develop further.

To sum up, $AMD ended the cycle from the 4/27 peak, reached the 312.17–296.13 blue box, and buyers entered as expected. As a result, the reaction higher is in place, and longs can now look to get risk free while the bounce continues.

Elliott Wave Forecast