# What to Watch Today (2026-08-11)
Tech momentum is fracturing as yesterday's AI-powered surge leaves several mega-caps dangerously overbought while select names still show runway.
Bullish Setups to Watch
AVGO ($422.40) remains the cleanest upside play, targeting $435 after a 7.7% weekly surge that appears fundamentally justified rather than momentum-driven. The chip giant's valuation thesis intact with room to run.
NVDA ($217.55) needs to prove itself above the critical $220 level to justify its 5.3% weekly gain. A clean break higher could trigger algorithmic buying toward the $225 target.
ISRG ($393.38) offers a lower-volatility momentum play in surgical robotics, with healthy RSI at 57 suggesting more upside toward $405.
Bearish Pressure Points
MSFT ($506.06) flashes major warning signs with RSI hitting 79 after a 3.8% weekly pop. The mega-cap looks vulnerable to profit-taking with a $485 downside target.
ABNB ($184.70) screams overbought at RSI 81.5 following a massive 23% weekly surge. The travel stock appears ripe for a pullback toward $170.
AMD ($469.56) faces continued pressure after Musk's NVDA commitment triggered yesterday's 8% drop, with weakening technicals pointing to $450.
Today's Top Trade
Short MSFT remains the highest-conviction setup. With RSI at extreme 79 levels and the stock up nearly 4% this week, Microsoft has run too far too fast. The $506 level represents a logical profit-taking zone for institutions, making the $485 target achievable on any broad tech weakness. Risk management crucial above $510.
Today's Calendar
No major earnings or Fed speakers scheduled. Focus remains on technical levels and momentum continuation versus mean reversion in yesterday's AI winners.