Is semiconductor having a correction before election?

Top Decliners

$Mobix Labs (MOBX.US)$

$Nano Labs (NA.US)$

$WISeKey (WKEY.US)$

$United Microelectronics (UMC.US)$

$Taiwan Semiconductor (TSM.US)$

$MACOM Technology Solutions (MTSI.US)$

$GCT SEMICONDUCTOR HOLDING INC C/WTS 01/03/2029(TO PUR COM) (GCTS.WS.US)$

$Intchains Group (ICG.US)$

$Sequans Communications (SQNS.US)$

$ASE Technology (ASX.US)$

$Monolithic Power Systems (MPWR.US)$

$ChipMOS TECHNOLOGIES (IMOS.US)$

$Broadcom (AVGO.US)$

$Diodes (DIOD.US)$

$Micron Technology (MU.US)$

$Texas Instruments (TXN.US)$

$NVIDIA (NVDA.US)$

$MagnaChip Semiconductor (MX.US)$

$Semtech (SMTC.US)$

$GlobalFoundries (GFS.US)$

The semiconductor sector appears to be in a consolidation phase, trading within a defined range between a key support and resistance level.

This period of relative stability may indicate that the market is taking a breather after previous volatility. Investors are likely awaiting clearer signals, such as earnings reports or macroeconomic developments, to determine the next direction.

If momentum shifts positively, the sector could break out of this range and resume its upward trajectory. Conversely, a drop below support could signal further challenges ahead.

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