AI Rally on Wall Street: Nasdaq Hits Record, AMD Surpasses $1 Trillion

AMD stock rose 18.47% in 24 hours to reach $615.36, with RSI at 81.58, indicating overbought territory. MACD is positive and above the signal line, showing strong short-term momentum. News reports an AI rally on Wall Street and AMD surpassing a $1 trillion market cap; this positive news flow could support the upward movement. However, due to overbought conditions and potential profit-taking, the upward movement may be limited in the 1-3 day outlook. Nevertheless, the overall trend is upward.

NVDA is in a strong uptrend, with its last close at 227.25 above both its 20-day and 50-day moving averages. The RSI at 78.6 places it in overbought territory, increasing the risk of a short-term correction. However, the AI rally on Wall Street and AMD surpassing $1 trillion indicate strong appetite for the sector, which could positively impact NVDA. The MACD is positive and above the signal line, signaling continued momentum. Nevertheless, caution is warranted due to overbought conditions; the 1-3 day direction may be upward, but volatility could be high.

The news indicates a strong AI-driven rally and the Nasdaq hitting a record, which could support optimism in the short term. However, with RSI at 83.5, it is in overbought territory and the price is well above the SMA20, increasing the risk of profit-taking. MACD is positive and above the signal line, so momentum remains strong. After a 24-hour gain of 4.56%, technically, a pullback or consolidation is likely. Therefore, although the direction is upward, the confidence level should be kept at a moderate level.