Selling Wave Intensifies in Chip Sector

GOOGL shares have fallen 5.7% in the last 24 hours, with the RSI approaching the weak zone at 44.9. The MACD line remains below the signal line and in negative territory, indicating continued selling pressure. Although the price is just above the 20-day SMA (322.18), it is well below the 50-day SMA (337.70). News of a sell-off wave in the chip sector could add further pressure on technology stocks and support a short-term bearish trend. However, the RSI has not yet reached oversold territory, and the price's proximity to the 20-day SMA suggests that the decline may be limited.

The headline indicates ongoing selling pressure in the chip sector. NVDA shares have lost over 8% in the last 24 hours, and while the RSI has dropped to 33, approaching oversold territory, the MACD line remains below the signal line and in negative territory, suggesting sustained bearish momentum. The price trading below both the 20-day and 50-day moving averages weakens the technical outlook. In the short term, selling pressure is likely to persist, but the proximity to oversold levels means a potential rebound buying cannot be ruled out.

AMD shares have fallen 10.7% in the last 24 hours to $495.07. While the RSI at 38.45 approaches oversold territory, the MACD line remains below the signal line and in negative territory. Trading below the 20-day and 50-day moving averages ($517.41 and $522.19, respectively) weakens the short-term outlook. News of a sell-off wave in the chip sector could reinforce technical weakness and increase downward pressure. However, nearing oversold territory also raises the possibility of a short-term bounce.

The headline points to widespread selling pressure in the chip sector, which could negatively impact TSM shares. Technical indicators support this view: the stock has lost 5.4% in the last 24 hours, the RSI has fallen to 42.7, below the neutral zone, and the MACD line is trending negatively below the signal line. The price is trading below both its 20-day and 50-day moving averages, suggesting continued short-term weakness. However, since the stock has not yet entered oversold territory, the pace of decline may remain limited.