AI Stocks Decline Once More, Bitcoin Approaches $100,000: What’s Influencing Markets This Thursday?
Market Performance: Risk-off sentiment returned to Wall Street, leading to a selloff in major indices, with the S&P 500 down 1%, Nasdaq 100 down 1.8%, and Dow Jones down 0.9%. AI-linked stocks were particularly affected, with Robinhood and Palantir experiencing significant declines despite positive earnings reports.
Economic Concerns: Investors are facing mixed corporate earnings and rising concerns over the labor market, highlighted by a report showing increased layoffs. Federal Reserve officials expressed hesitance about further rate cuts, dampening investor optimism.
Crypto Market Trends: The cryptocurrency market also faced pressure, with Bitcoin falling 1.7% to around $101,000 and Ethereum dropping 4%. This decline resumed after a brief pause in their downward trend.
Earnings Reports: Several companies reported earnings, with notable movers including Robinhood down nearly 10%, Qualcomm down about 5%, and Duolingo plummeting 26.9%. The market is anticipating further earnings reports from various companies later in the day.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
About the author
