Former Nvidia CEO Huang to Testify in Closed-Door Session at US Congress

The news reports that former Nvidia CEO Huang will testify in a closed session at the US Congress; such political/regulatory uncertainties could create short-term pressure on the stock. The technical picture is already weak: the price has fallen 7.8% in 24 hours, RSI at 31 is near oversold territory and MACD is in negative territory, and the price is below SMA20 and SMA50. Oversold conditions may trigger short-term bargain hunting, but the uncertainty created by the news and weak momentum increase downside risk. Therefore, I expect a slightly downward bias over the 1-3 day outlook; however, with low confidence, because the content of the testimony is unknown and bargain hunting may be seen.

The headline focuses not directly on AMD but on Nvidia’s former CEO Huang speaking in a closed session at Congress; thus the impact on AMD is indirect and uncertain. AMD shares have risen 15.5% in the last 24 hours, with an RSI of 69 approaching the over‑bought threshold and the price trading well above the 20‑period simple moving average (SMA20), increasing the risk of short‑term profit taking. The MACD remains in positive territory above the signal line, indicating that momentum is still strong, though the speed of the rally may be questioned in terms of sustainability. Because the content of the congressional session is unknown, it is unclear whether it will trigger sector‑wide regulation or geopolitical news flow. Consequently, it is difficult to predict a clear direction for a 1‑3 day outlook; a neutral stance is the more cautious approach.