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Rate expectations are driving the selloff

Technology stocks showed a mixed picture in premarket trading on Monday after Friday’s sharp losses. The pressure came in part from comments by Kevin Warsh, who said rate cuts are not imminent and that interest-rate hikes could still remain on the table.

Even so, some investors were seen using the weaker prices in early trading as an entry point. If overall risk appetite improves again, analysts say a rebound could gather pace, especially in growth-oriented names.

What does the technical picture say for Nvidia and Apple?

Nvidia attempts a partial recovery

Nvidia shares edged higher in premarket trading on Monday after Friday’s steep decline. From a technical standpoint, the stock has now filled roughly half of the gap opened after its earnings update a few days ago.

Whether that move turns into a lasting recovery will likely depend on broader market sentiment. If investors regain their appetite for risk, Nvidia could once again attract buying interest.

Apple has been more resilient

Apple shares were slightly lower in premarket trading, but held up better than Nvidia during Friday’s selloff. The stock fell sharply during the earnings update, then began to trend higher gradually afterward.

The technical setup suggests Apple may be forming a more durable recovery base despite the high-rate environment. The presence of dip buyers is also seen as one factor supporting that view.

SMCI is being watched in the $35 to $40 range

Support and resistance levels stand out

Super Micro Computer (SMCI) shares traded modestly lower in premarket trading on Monday. On the charts, $35 stands out as a support zone that has worked before, while $40 is being tracked as a resistance level.

“Golden cross” possibility on the technical chart

The 50-day exponential moving average moving closer to crossing above the 200-day average has brought a so-called “golden cross” into focus in technical analysis. While the stock may continue to trade within a range in the near term, technical traders note that consolidation periods can sometimes lead to a continuation of the prior uptrend.

  • Nvidia: about half of the gap opened after earnings has been filled.
  • Apple: remained relatively resilient despite the selloff.
  • SMCI: $35 is being watched as support, $40 as resistance.
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