#MemoryChipsRally

Memory chip stocks had a jump overnight because people still want to buy things that are used for artificial intelligence. Companies like SK Hynix, Sandisk, Micron and Seagate all did well. SK Hynix went up than 9% Sandisk went up 5% Micron went up 4.9% and Seagate went up 7%. The reason for this is that people need memory chips for intelligence.

This was not one company that did well lots of companies that make memory chips did well too. This shows that the whole market is interested in memory chips, not one company. When lots of companies do well at the time it usually means that people think the demand for memory chips will keep going up.

Artificial intelligence needs a lot of memory chips to work properly. This means that companies that make memory chips will keep doing. The latest jump in the market shows that people are still willing to pay more for memory chips because they think artificial intelligence will keep using them.

If we look at the chart for Micron we can see that the price is near 911. This is after the price went up from the low point in late July. The price is above the 50-period average, which's about 885 and it is also above the 200-period average, which is about 904. There is still a resistance point near 942-943. The RSI is in the 50s which is a good sign and the MACD is positive and going up. This means that the market is stable and trying to keep going up.

The big question is, will this keep going? Sometimes when technology stocks have a jump it is just because people are covering their bets and it does not last.. If people keep wanting to buy memory chips for artificial intelligence then the price might keep going up. We will have to wait and see what happens next.

To sum it up memory chip stocks did well overnight because of intelligence. The chart, for Micron looks good. We will have to wait and see if the price keeps going up. This is what I think it is not a recommendation to buy or sell anything.

‍#MemoryChips #AIDemand #Micron
@Gate_Square