Tech names continued to draw technical attention today as @MMatters22596 noted that in $ASTS wave a appears nearly complete, with the correction expected to take a bit longer and a possible move below $50.

The same analyst also posted a detailed list of key support levels on the current pullback across AI-infra, software, physical AI and semiconductors, including $NVDA at $191, $TSLA at $277 and $PLTR at $103.

@AsafNaamani commented on stocks approaching resistance after recent rallies and recommended watching the 0.5 and 0.618 Fibonacci retracement levels for potential support on pullbacks, while referencing his earlier note on a bearish weekly candle in SPY and QQQ.

Why it matters

Technical analysis provides a framework for identifying potential entry and exit points, especially when the market shows signs of continuation or correction.

The bottom line

Today's technical conversation focused primarily on $ASTS and supports in the technology sector, with emphasis on Fibonacci levels in the major indices.