Here's our daily look at three charts connected to recent news-driven price moves, with key technical levels to monitor.

Warner Bros. Discovery, Inc.

Shares in film and entertainment giant Warner Bros. Discovery (WBD), which dropped more than 5% on Wednesday, will be in the spotlight again Thursday after reports surfaced that the company may merge with Paramount Global (PARA). Sources familiar with the matter told news and politics site Axios that preliminary discussions took place at Paramount’s headquarters in Times Square, with the CEOs of both companies discussing how a tie-up could complement one another. Warner Bros. Discovery CEO David Zaslav also discussed a deal with Shari Redstone who heads Paramount’s parent company, National Amusements, Axios reported. The discussions come less than a month after Skydance and investment group RedBird Capital were reportedly considering making a takeover play for Paramount Global.

Despite a move higher in January, the WBD share price has trended sideways to mostly lower within a 澳洲幸运5官方开奖结果体彩网:descending channel throughout 2023. More recently, the shares have rallied from the pattern’s lower trendline and appear to be finding 澳洲幸运5官方开奖结果体彩网:resistance from the 200-day✨ moving average. Monitor the chart for channel breakouts in either direction to gain a better idea on where the stock may be headed next. It's also worth watching key levels of support and resistance on the Paramount chart today for any significant moves.

Micron Technology, Inc.

Micron (MU) shares were up 7.2% about 30 minutes before Thursday’s opening bell after the hardware memory and storage maker posted a better-than-expected 澳洲幸运5官方开奖结果体彩网:quarterly earnings report and delivered encouraging sales guidance. The company posted an adjusted loss of $0.95 per share in the fiscal first quarter, and generated revenue of $4.73 billion, both of which were better than analysts had expected. Importantly, the hardware maker provided second-quarter sales guidance of roughly $5.3 billion, ahead of the $4.97 billion analysts had expected. Micron CEO Sanjay Mehrotra cited strong execution and pricing for the impressive quarterly performance.

Micron shares have oscillated within a broad 澳洲幸运5官方开奖结果体彩网:ascending channel throughout 2023, with the pattern’s upper and lower trendlines establishing identifiable support and resistance levels. After the company’s upbeat earnings report, investors should watch for a potential breakout of the channel’s top trendline. If such a move occurs, it’s 🦄likely the price would retest the initially breakout point before any sustained rally, given the shares have risen sharply since late October.

iShares MSCI China ETF

The iShares MSCI China ETF (MCHI), an 澳洲幸运5官方开奖结果体彩网:exchange-traded fund (ETF) that tracks a market-cap-weighted index of investable Chinese shares, slumped 2.7% Wednesday to close at its lowest level in 2023 amid concerns over China’s slowing economic growth and 澳洲幸运5官方开奖结果体彩网:property market risks. Although Chinese shares rank among the cheapest globally, investors have taken a wait-and-see approach to the country’s equity markets until further details emerge about what fiscal policy measures may be unleashed to shore up an economic recovery in the world’s second largest economy. However, sentiment towards Chinese stocks appears to be shifting on Wall Street. Investment bank Jefferies says it has turned “tactically bullish,” on Chinese equities due to an appreciating yuan and cheap valuations, while Morgan Stanley and Goldman Sachs have forecast Sino equities to outperform the S&P 500 in 2023.

The fund’s price has moved up and down within a falling wedge pattern since early 2023. Typically, this formation indicates waning selling momentum and the potential for a reversal back to the upside. Looking ahead, investors should keep an eye out how the price reacts to the wedge pattern’s lower trendline. A convincing breakdown could lead to further declines, however a reversal at these levels co🐈uld mark th💯e beginning of a new uptrend.

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