China's CXMT IPO Shakes Memory Chip Stocks: SanDisk Down 12%, Micron Falls 5%
📊 MU — Piyasa Yorumu
▼ down · 70%News that Chinese chipmaker CXMT is planning an initial public offering is weighing on Micron Technology shares, as investors worry about increased competition in the memory sector. Technical indicators already point to weakness: the RSI at 30.8 is near oversold territory, the MACD is negative and below its signal line, and the price is trading below both the 20-day and 50-day moving averages. The 10.4% drop over the past 24 hours underscores the intensity of selling pressure. While the short-term downtrend is likely to persist, oversold conditions could trigger some bargain buying.
📊 WDC — Piyasa Yorumu
▼ down · 75%The news that Chinese CXMT's initial public offering will increase competition in the memory sector is also negatively impacting WDC. Technical indicators confirm the selling pressure: RSI at 28.7 is in oversold territory, MACD is negative and below the signal line, and the price is below both the 20-day and 50-day moving averages. The 11.7% decline in the last 24 hours indicates strong momentum. The downtrend is expected to continue in the short term, though some buying on the dip may occur due to oversold conditions.