US Tech Stocks Plunge Sharply on AI Concerns

NVDA fell more than 12% in 24 hours to 181.57 and is trading significantly below its SMA20 (198.97) and SMA50 (205.91) levels, confirming a downward short-term trend. RSI14 at 17.7 places it in oversold territory, and MACD is negative and below the signal line; while this indicates downside momentum, it also raises the possibility of short-term rebound buying. A news headline based on AI concerns is feeding existing negative sentiment and could sustain selling pressure across the sector. However, due to oversold conditions, a volatile or partial recovery may be seen in the 1-3 day horizon after the sharp decline; therefore, while the direction remains downward-biased, I maintain medium confidence. The 175-180 band should be watched as short-term support, and the 190-195 band as resistance.

AMD fell sharply by more than 16% in 24 hours to 402.5, with RSI14 at 23 placing it in oversold territory. The price is clearly below its SMA20 (466) and SMA50 (506) averages, while MACD is in negative territory and below its signal line, confirming weak short-term momentum. Sector-wide selling pressure driven by AI concerns is consistent with the news and weighs on risk appetite. Oversold conditions could set the stage for rebound buying, but trend indicators have not yet given a reversal signal. For this reason, downside risk is more dominant in the 1-3 day outlook, though confidence should be kept at a moderate level given elevated volatility.