Warner Bros. Discovery $15.20 (2025), Micron $62.50 (2025), MCHI ETF $45.30: Top 3 Investor Charts to Watch This Thursday

Keep a close eye on crucial technical indicators for WBD, MU, and MCHI this Thursday.

Essential Insights

• Warner Bros. Discovery shares approach the upper boundary of a downward channel, facing resistance near the 200-day moving average.
• Micron stock fluctuates within a broad descending channel throughout 2023, with clear support and resistance levels established.
• The iShares MSCI China ETF (MCHI) trades near the lower trendline of a falling wedge pattern, often signaling a bullish price reversal.

Here is our daily breakdown of three charts influenced by recent news-driven market moves, highlighting key levels to watch closely.

Warner Bros. Discovery, Inc. (WBD)

Shares of Warner Bros. Discovery (WBD), which declined over 5% recently, returned to focus amid reports of possible merger talks with Paramount Global. Insider sources revealed preliminary discussions between CEOs at Paramount's Times Square headquarters, exploring potential strategic synergies. CEO David Zaslav also engaged with Shari Redstone of National Amusements, Paramount’s parent company. These talks follow earlier takeover considerations by Skydance and RedBird Capital for Paramount Global.

After a January rally, WBD has mostly moved sideways or lower within a descending channel throughout 2023. Recently, the stock bounced from the channel’s lower boundary but now faces resistance near the 200-day moving average. Investors should watch for any breakout above or below the channel to gauge future price direction. Monitoring Paramount’s chart for key support and resistance levels is also recommended for potential market moves.

Micron Technology, Inc. (MU)

Micron (MU) shares surged 7.2% pre-market Thursday following a strong quarterly earnings report and optimistic sales outlook. The company reported an adjusted loss of $0.95 per share for Q1 and revenues of $4.73 billion, surpassing analyst expectations. Guidance for Q2 anticipates sales near $5.3 billion, exceeding forecasts. CEO Sanjay Mehrotra attributed results to strong execution and effective pricing strategies.

Throughout 2023, Micron’s stock has moved within a broad ascending channel, with well-defined support and resistance boundaries. The recent earnings beat has investors watching for a breakout above the channel’s upper trendline. Should a breakout occur, a retest of the breakout level is likely before any sustained rally, especially considering the sharp rise since late October.

iShares MSCI China ETF (MCHI)

The iShares MSCI China ETF (MCHI), which tracks major Chinese equities, dropped 2.7% recently, closing at its lowest point in 2023 amid concerns over China’s economic slowdown and real estate sector risks. Despite Chinese stocks being among the cheapest globally, investors remain cautious, awaiting clearer fiscal policy moves aimed at economic recovery. Sentiment on Wall Street is shifting, with Jefferies adopting a tactical bullish stance due to a stronger yuan and attractive valuations. Morgan Stanley and Goldman Sachs forecast Chinese equities to outperform the S&P 500 in 2024.

MCHI’s price has been trading within a falling wedge pattern since early 2023, a formation typically indicating diminishing selling pressure and a potential bullish reversal. Investors should monitor the ETF’s reaction near the wedge’s lower trendline— a decisive breakdown may signal further declines, while a bounce could mark the start of a new upward trend.

All opinions and analyses on ZAMONA are for informational purposes only. Please consult our warranty and liability disclaimer for details.

As of this article’s publication, the author holds no positions in these securities.

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