Automotive and Retail Sectors Warn Memory Chip Shortage in US Affects Prices

GOOGL shares fell 6.14% in the last close, with the RSI dropping to 22.5, entering oversold territory. The MACD is below the signal line and in negative territory, indicating weak short-term momentum. The price is trading below the 20-day and 50-day moving averages, painting a negative technical outlook. News headlines highlight a memory chip shortage affecting the automotive and retail sectors, which could indirectly impact GOOGL's advertising revenue. While the oversold zone may trigger short-term bargain buying, the overall downtrend suggests a higher probability of continued decline.

MU shares have recorded a strong 10.9% gain in the last 24 hours, pushing the RSI into overbought territory at 78.3. While news reports indicate that memory chip shortages are affecting prices, this could serve as a positive short-term catalyst for MU. However, technical indicators are signaling overbought conditions, which may limit further upside. The MACD line remains below the signal line, indicating weakening momentum. As a result, a sideways trend or a slight correction is expected in the near term.

The news indicates that the memory chip shortage is driving up prices, which could serve as a positive catalyst for chip manufacturers like Intel. Technically, the price is trading above the 20-day moving average, and the RSI is in neutral territory, supporting upside potential. The MACD line is above the signal line and trending upward, signaling a short-term recovery. However, a 4.9% decline in the last 24 hours and trading below the 50-day moving average warrant caution. A slight upward movement is expected in the short term due to the news impact.

The news reports that a memory chip shortage is impacting prices, which could be a negative signal for semiconductor companies such as NVDA. Technical indicators also point to weakness: RSI at 41.6 is below the neutral zone, MACD is below the signal line, and the price is below the SMA20. The closing price of $215.98 is just below the SMA50 of $216.81, indicating a test of short-term support. The 0.45% decline over the past 24 hours confirms negative momentum. Selling pressure is likely to persist in the near term.