CXMT Rejects Huawei's Discount Request, Signs $7B Deal with ByteDance
📊 0700.HK — Piyasa Yorumu
▼ down · 70%Chinese memory manufacturer CXMT has rejected Huawei's discount request and instead secured a major deal with ByteDance, potentially impacting industry competition and supply chain dynamics. This development is perceived as a negative signal, particularly for companies linked to Huawei. Technical indicators already paint a weak picture: the stock has fallen 8.6% in the last 24 hours, with RSI at 30.7 near oversold territory, while MACD is below the signal line and in negative territory. Trading below SMA20 and SMA50 confirms negative short-term momentum. Therefore, the downtrend is likely to continue in the near term.
📊 BABA — Piyasa Yorumu
▼ down · 70%News that Chinese memory manufacturer CXMT has rejected Huawei's discount request and instead signed a major deal with ByteDance could be interpreted as an indirect negative for BABA. Technical indicators also point to weakness: the price is below both the 20-day and 50-day moving averages, the RSI at 38 is in the oversold zone, and the MACD is negative below the signal line. The 5.7% decline in the last 24 hours indicates increasing selling pressure. In the short term, the downtrend is likely to continue.