In the last year, Vale (VALE) trended lower. Yesterday’s 5.93% break out is an unusual pattern. Expect traders to potentially take profits on higher volume today. Last month, FT reported that Value may have a £3 legal suit to defend, related to the Mariana dam disaster.
After peaking at over $50, Intel (INTC) broke below $38 on Monday. Bears have enough momentum to send the chip giant down to $30. The firm relied too heavily on outsourcing chip production to Taiwan Semiconductor (TSM). Furthermore, it started work on the $100 billion U.S. factory investments. Risks are so high that the domestic chip production plans face snags. Any further cost warnings would hurt Intel shares.
Intel’s stock drop is not isolated. AMD (AMD), which has a $275 billion market compared to $160 billion for the former, potentially peaked. Nvidia (NVDA), which has a $2.2 trillion market capitalization, indicated a bearish “double top” pattern at $951. NVDA stock closed at $871.
Last Friday, after the market closed, Tesla (TSLA) stopped the sell-off by announcing a Robotaxi launch in August. Uber (UBER) fell by 2.76% to close at $75.03. Months before this development, GM Cruise lost its self-driving license in San Francisco. In Phoenix, a Waymo robotaxi hit the same pickup truck twice as it was towed. Its technology failed to predict the towed vehicle's future motion accurately.
