4 Daily Charts to Watch: $IWM, $SMH, $GOOG & $MSFT 🐯
Markets are showing mixed signals, with key technical levels coming under pressure across several major names.
While some stocks are attempting to rebound, bullish conviction remains weak, and the risk of further downside hasn't disappeared.
1. $iShares Russell 2000 ETF(IWM)$ : Bullish move, but conviction is missing.
The critical 20DMA is being tested — the same level that has dictated the trend for four weeks.
Breakout or rinse and repeat? Today’s doji leans toward the latter.
2. $VanEck Semiconductor ETF(SMH)$ : Recent bounces off the lower Bollinger Band have failed quickly.
With today’s price action lacking bullish conviction, a retest of the lows looks increasingly possible.
3. $Alphabet(GOOG)$ : Testing ascending support, with a potential premarket breakdown ahead.
If support fails, 330 becomes the critical demand zone.
With valuation multiples near multi-year lows, the setup offers a compelling case for longs from both technical and fundamental perspectives.
4. $Microsoft(MSFT)$ : The most resilient trillion-dollar stock lately has lost its critical 534 central weekly level (CWL).
Above it, bulls have a case; below it, the breakdown risk rises. The 20DMA is now the key line of defense, but weak price action suggests bulls still have work to do.
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