POET Technologies Stock Halves After Marvell Order Cancellation; Company Bets on AI Demand

The sharp decline in POET Technologies stock is attributed to news of an order cancellation related to Marvell. This development could be interpreted as a sign of weakness in Marvell's supply chain or customer demand. Although technical indicators are neutral-to-positive in the short term (RSI at 60, MACD positive), such news may exert pressure on the stock. While the news does not directly target Marvell, negative sentiment in the sector could amplify selling pressure in the near term. Therefore, a downward movement is expected over a 1-3 day perspective.

JST is trading at 0.08391, down 0.33% in the last 24 hours. The RSI at 44.7 is near the lower end of the neutral zone, while the MACD is below the signal line and in negative territory, indicating short-term weakness. The price is trading just below the 20-day and 50-day moving averages (0.08449 and 0.08433, respectively), which could act as resistance. Although news related to POET Technologies does not directly impact the crypto market, the negative sentiment in AI and technology stocks may reduce risk appetite, potentially spilling over into cryptocurrencies. Therefore, a downward move is possible in the short term, though the decline may be limited.

The news delivers a negative signal regarding Marvell's order cancellation, despite reliance on AI demand. Although NVDA's RSI at 36.17 is near oversold territory, the MACD and signal line remain in negative territory with downward momentum persisting. The price closed below the 20-day SMA (197.92) and shows significant weakness relative to the 50-day SMA (204.22). Selling pressure is likely to continue in the short term, though the pace of decline may be limited due to oversold conditions.