Chip Stocks Decline as Samsung Rises | Open Interest 7/7/2026

Although Amazon (AMZN) shares have risen 1.6% in the last 24 hours, a decline in chip stocks and uncertainty in overall market sentiment may limit upward movement in the near term. Among technical indicators, the RSI is at 59, in neutral territory, while the MACD remains below its signal line, suggesting weakening momentum. Despite the price trading above its 20- and 50-day moving averages, selling pressure in the chip sector risks spilling over into technology stocks. Therefore, determining a clear direction in the short term is challenging, and consolidation at current levels can be expected.

Although BLK shares rose 2.7% in the last close, the RSI at 68 is approaching overbought territory. While the MACD line remains above the signal line, indicating a positive outlook, news headlines point to a decline in chip stocks. This could pose an indirect risk for a financial-focused company like BLK. Short-term upward momentum may continue, but overbought signals and sector-specific news suggest caution is warranted.

NDX dropped 2.26% in the last 24 hours, falling to 29,297. The RSI at 42.1 has moved below the neutral zone, indicating short-term weakness. The MACD line is below the signal line and in negative territory, confirming downward momentum. The technical outlook is weak as the price closed below both the 20-day and 50-day moving averages. The decline in chip stocks mentioned in the news headline could negatively impact the index, given NDX's heavy weighting in technology stocks.

The headline points to general weakness in the chip sector, but since 9988.HK is not a direct chip stock, the impact may be limited. Technical indicators give mixed signals: RSI at 51.77 is in neutral territory, MACD is just below the signal line, and the price is trading near the 20-day moving average. Despite a 1.8% rise in the last 24 hours, momentum appears weak. In the short term, a sideways trend is expected without a clear direction.