Kioxia Prepares for Mass Production of Next-Gen Memory as AI Boom Triggers Dramatic Rebound - Reuters

GOOGL stock is finding support from a positive news flow regarding the artificial intelligence boom. Technical indicators point to a short-term bullish trend, with the RSI at 58 in neutral territory and the MACD remaining above its signal line. The price is trading above the 20-day and 50-day moving averages, indicating strong momentum. However, the MACD being slightly below the signal line and the RSI not approaching overbought territory suggest that the upside may be limited. Overall, the news and technical data support a moderate short-term rise.

Micron Technology (MU) shares fell 12.9% in the last 24 hours, entering oversold territory with an RSI of 31.4. The decline comes amid news that Kioxia is preparing to produce next-generation memory chips driven by AI demand, which could be interpreted as a positive signal for the broader industry. Technically, while the MACD remains in negative territory, oversold conditions may support a short-term rebound. However, trading below both the 20-day and 50-day simple moving averages suggests that upside movement may be limited. A short-term upward correction is possible, but confidence in this outlook is moderate.

The news indicates that Kioxia is gearing up for next-generation memory production fueled by artificial intelligence demand. This could serve as a positive catalyst for WDC, given its partnership with Kioxia. However, technical indicators are in oversold territory (RSI at 25.6), and the price is below the 20/50-day moving averages, suggesting short-term recovery potential. While the MACD remains in negative territory, the optimism generated by the news could trigger a rally. Nonetheless, since the downtrend has not been broken, upside movement may remain limited.