🌐Macro Background
US technology stocks are poised to rebound after a sharp drop driven by AI valuation concerns, with nearly $1.3 trillion lost from Nasdaq-100 stocks. The Philadelphia Semiconductor Index fell 7.9%, and the Nasdaq 100 declined 3.3%.
Volatility also impacted Asia, particularly South Korean stocks, influenced by global chipmaker earnings. Micron Technology's upcoming earnings will help determine whether tech indices stabilize or face further declines.
📊Technical Structure
The US100 is trading within an ascending channel, stabilizing at its midpoint after the recent decline. The channel shows clear support and resistance.
Resistance Zone (30,085 – 30,388): This area marks a historical supply block. Reclaiming this zone is key for bulls.
Support Zone (28,862 – 29,143): This is the structural floor. As long as it holds, the broader trend remains intact.
🎯Trade Setup
A potential long setup exists if the channel’s support holds ahead of a key earnings catalyst.
Entry: Go long on pullbacks to support around 29,143 or on a breakout above 29,600, especially if Micron’s earnings spark a rebound.
📌Invalidation
The bullish scenario is negated if the US100 closes below 28,862, breaching the defined channel base and invalidating current support.
📌Trade Summary
US100 may see a relief rally after the tech sell-off. The focus is on buying near support within the channel.
⚠️Disclaimer
This analysis is for reference only and does not constitute trading advice. Financial markets involve significant risk; proper risk and position management are essential.
US technology stocks are poised to rebound after a sharp drop driven by AI valuation concerns, with nearly $1.3 trillion lost from Nasdaq-100 stocks. The Philadelphia Semiconductor Index fell 7.9%, and the Nasdaq 100 declined 3.3%.
Volatility also impacted Asia, particularly South Korean stocks, influenced by global chipmaker earnings. Micron Technology's upcoming earnings will help determine whether tech indices stabilize or face further declines.
📊Technical Structure
The US100 is trading within an ascending channel, stabilizing at its midpoint after the recent decline. The channel shows clear support and resistance.
Resistance Zone (30,085 – 30,388): This area marks a historical supply block. Reclaiming this zone is key for bulls.
Support Zone (28,862 – 29,143): This is the structural floor. As long as it holds, the broader trend remains intact.
🎯Trade Setup
A potential long setup exists if the channel’s support holds ahead of a key earnings catalyst.
Entry: Go long on pullbacks to support around 29,143 or on a breakout above 29,600, especially if Micron’s earnings spark a rebound.
📌Invalidation
The bullish scenario is negated if the US100 closes below 28,862, breaching the defined channel base and invalidating current support.
📌Trade Summary
US100 may see a relief rally after the tech sell-off. The focus is on buying near support within the channel.
⚠️Disclaimer
This analysis is for reference only and does not constitute trading advice. Financial markets involve significant risk; proper risk and position management are essential.
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면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
ATFX is a globally regulated, award-winning fintech broker offering customer support in 20 languages.
👉🏼Start your trading journey with ATFX: bit.ly/3mLMPHz
👉🏼Start your trading journey with ATFX: bit.ly/3mLMPHz
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.