Micron and Chip Stocks Decline as Election Results Undermine Data Center Optimism

MU dropped sharply by 11.4% in 24 hours to 823.7 and is trading well below its SMA20/SMA50, indicating a weak short-term trend. Although RSI14 at 30.4 is approaching oversold territory, no reversal signal has emerged yet; MACD remains in negative territory and is hovering very close to its signal line. The news confirms selling pressure on chip stocks as post-election data center optimism wavers; this thematic risk could sustain downward pressure over the next 1-3 days. However, oversold conditions and MACD's proximity to its signal also raise the possibility of short-term rebound buying, so the direction is down but confidence is moderate. As long as the price remains below 857 (SMA20), the downward bias holds, and support around 800 should be monitored.

NVDA is under selling pressure across the chip sector as election results shake data center optimism. The price at 204.24 is below the SMA20 (205.77) and significantly below the SMA50 (211.50); the short-term trend is weak. Although the RSI at 39.8 is approaching oversold territory, there is no reversal signal yet. The MACD is in negative territory but above its signal line, indicating that downward momentum has somewhat slowed. As the news flow suppresses sector risk appetite, a downward bias is likely over the next 1-3 days, but oversold conditions may limit a sharp decline.