Global Tech Sell-Off Drags Nasdaq Lower

NVDA has fallen 6.8% in the last 24 hours to 193.88, with its RSI approaching oversold territory at 32. The MACD line is below the signal line and in negative territory, indicating weak short-term momentum. The stock is trading below its 20-day SMA (198.17) and 50-day SMA (204.15), painting a negative technical picture. News headlines indicate that a global technology sell-off is impacting the Nasdaq, suggesting that NVDA's decline is sector-wide and may limit the potential for a short-term recovery. However, the RSI nearing oversold levels could trigger some buying interest, though the overall trend remains bearish.

NDX fell 3.16% in the last 24 hours to 29,281, slipping below its 20-day SMA of 29,374. The RSI at 41.3 has moved below the neutral zone but has not yet entered oversold territory, suggesting the decline may continue. The MACD line remains below the signal line and in negative territory, confirming weak momentum. The global tech sell-off highlighted in the news headline stands out as a catalyst supporting the current technical weakness. A pullback toward the 29,000 support level is highly probable in the short term, but since the market has not entered oversold territory, the pace of the decline may remain limited.

The news headline indicates broad selling pressure in technology stocks, with the Nasdaq pulling back. This could have a short-term negative impact on tech stocks such as MU. Although the RSI is neutral at 61, the MACD above its signal line points to upward momentum. However, the latest close well above the 20- and 50-day moving averages suggests the stock is approaching overbought territory, increasing the risk of a potential correction. The general market sell-off and overbought technical indicators raise the likelihood of a downward move in the near term.

AMD shares fell 4.3% in the last 24 hours to 520.60. Despite the RSI at 47.4 remaining in neutral territory, the MACD line is below the signal line and in negative territory, indicating short-term weakness. The technical outlook is negative as the price closed below both the 20-day (521.14) and 50-day (525.83) moving averages. The global technology sell-off highlighted in the news could further exacerbate AMD's current weakness. However, since the stock has not entered oversold territory, the decline may remain limited.