Currently,
AMD shares have dropped 6.76%
The NASDAQ index is currently down 351 points (-2.07%) at 16,475.75, after falling to a session low of 16,420.56. The high for the day reached 16,600.36.
Looking ahead, the next key downside target is the 50-hour moving average, which comes in at 16,330.78 and is gradually rising.
Yesterday, Nvidia briefly moved above its 200-hour moving average—the third attempt in the past week—but once again failed to sustain the breakout, highlighting a recurring technical rejection.
Adding to the bearish tone, the high from April 9 stalled at $115.03, which corresponds to the 50% retracement of the decline from the February high. The inability to break through that level has further dampened bullish sentiment.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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