Google, despite being a strong mega-cap, is forming a topping and shoulder pattern, flirting with a loss of its neckline support.
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Iran War: Trump Wastes A TACO
The creator recaps market activity on Monday, March 23rd, focusing on geopolitical tensions between the US and Iran. He discusses President Trump's warning to Iran regarding the Strait of Hormuz, Iran's potential retaliation impacting oil prices, and the subsequent de-escalation through phone calls. The creator expresses skepticism about the legitimacy of the de-escalation, citing conflicting statements from Israeli Prime Minister Netanyahu.
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Microsoft is also losing its weekly trend support, suggesting a negative outlook for the stock.
Meta is showing negative technicals, having lost its weekly trend line and support levels, indicating a bearish outlook.
Micron has lost its bullish pattern, broken above resistance then came back below, and is now flirting with the loss of its 50-day moving average, indicating a potential sell-off.
Nvidia has lost its 200-day moving average and is expected to decline to the next support level at $165 if it continues to trade below this key technical level.
Apple shows a potential for a rebound due to a falling wedge pattern, with a target of the 50-day moving average, but faces risk if it fails to close above key levels.