The semiconductor sector's recovery briefly comes to a halt after Trump's China Sanction. For which, AMD drops 2.42%, LRCX drops 1.38%, QCOM drops 1.19%, AMAT drops 0.77%, MU drops 2.57%, TSMC drops 0.67%. We expect the recovery to continue until next week as bear investors come to terms with limited but healthy growth.
Particularly, we notice with Micron that the drop was overdone especially since China has already banned Micron Technology in May 2023. The overreaction saw whales buying into the dip at the end of market (large volume signal). We expect MU price to reach 108 by next week.
With Elon Musk in the a Trump administration, recent news of him buying more AI chips, we expect semiconductor sector to continue to grow in 2025.
Whereas as we have forecast, BTC briefly drop to $90k this week. We expect to see some support and sideway movements from 90k to 95k. The range will be tested next week, and if there isn't enough buying interests, we anticipate a break down to 85k coming.
Modify on 2024-11-27 20:39
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