Micron Urges US Congress to Restrict Chip Equipment Sales to Chinese Competitors, Sources Say

The news could be perceived positively as a move by Micron to maintain its competitive advantage in the US. The price has risen 5.3% in the last 24 hours, with the RSI at 53.8 in neutral territory, suggesting that upward momentum may continue in the short term. Although the MACD remains below the signal line, the price trading just below its 20-day moving average (506.75) could trigger a new rally if this level is breached. However, the impact of the news may be limited, and the market could focus on broader macroeconomic factors.

The news reports that US chipmaker Micron has called on Congress to restrict equipment sales to Chinese competitors. This could increase the risk of additional restrictions in the Chinese market for chip equipment manufacturers such as ASML. Technical indicators also point to weakness: the RSI is near oversold territory at 35, the MACD is below the signal line, and the price is below both the 20-day and 50-day moving averages. The 2% decline in the last 24 hours indicates continued selling pressure. With negative news flow and technical weakness in the short term, the downtrend is expected to persist.