Borsa Istanbul Falls 2%: Uptick Rule Activated for Short Selling

GOOGL shares may come under selling pressure due to a 2% decline in the broader market and the activation of the short sale rule. Technical indicators also point to weakness: the RSI is approaching oversold territory at 35, while the price is trading below both the 20-day (365.09) and 50-day (360.30) moving averages. The MACD is below the signal line and trending toward negative territory, indicating bearish short-term momentum. The last closing price was $354.29, and if it remains below this level, the downward momentum could accelerate. However, the RSI nearing oversold levels also suggests the possibility of a short-term bounce.

The sharp decline in the stock market and the activation of the short selling rule indicate that selling pressure may persist in the short term. Although the RSI is approaching the oversold zone at 35, the MACD being below its signal line and in negative territory confirms weak momentum. The price remaining below the 20- and 50-day moving averages makes the technical outlook negative. However, approaching the oversold zone also raises the possibility of short-term bargain buying. Therefore, while the downtrend continues, it may lose momentum.