SK Hynix Joins the $1 Trillion Valuation Club Following Micron

MU stock recorded a sharp rise of 23.6% in the last 24 hours, pushing its RSI into overbought territory at 75.8. While the news confirms a positive sentiment in the sector, such a rapid move may lead to profit-taking or sideways trading in the short term. The MACD remains strongly positive, but overbought signals could slow the rally. Therefore, I maintain a neutral stance on the short-term direction.

AMD shares rose 13.2% in the last 24 hours, closing at $503.62. While the RSI has entered overbought territory at 76.3, the MACD line remains above the signal line and is trending positively. The news highlights the strong performance of memory chip manufacturers, positively impacting the semiconductor sector, including AMD. Short-term upward momentum may continue, but there is a risk of profit-taking due to overbought levels.

Although the news reflects positive developments in the memory sector, NVDA stock has fallen 4.2% in the last 24 hours, and technical indicators have weakened. The RSI is approaching the oversold zone at 41, while the MACD remains in negative territory below the signal line. The price is trading below both the 20-day and 50-day moving averages. The likelihood of a continued short-term downtrend is high.