AMZN, MSFT and META Forecast – US Tech Giants Look to Rally Premarket

AMZN Technical Analysis

The Amazon market looks like it’s going to perk up a little bit during the session on Friday as pre-market trading does show that traders have started buying the stock, perhaps trying to break out of this descending wedge or depending on how you draw it, bullish flag.

Either way, there is the possibility of the market breaking much higher and if and when it does, it could open up a move to the $250 level. Short-term pullbacks I think continue to be buying opportunities with the $215 level underneath as support, especially now that the 50 day EMA is sitting right there as well.

MSFT Technical Analysis

Microsoft is barely up in the early hours, but as you can see, there’s a major trend line that it’s been following for some time and it looks like it has recently bounced from it. So now the question is, can we break above the 50 day EMA? If we do, that could open up a move towards the $450 level. Short-term pullbacks, I think, are supported by the 200-day EMA and the trend line, as we had seen a hammer form on that trend line during the Wednesday session and the most recent sell-off.

META Technical Analysis

And finally, Meta is slightly positive in the early hours as well, as it is also following a bit of a trend line going back to September. The market has been a little sluggish as of late, but like the others, it has an earnings call in a couple of weeks. That could come into the picture and give us another reason to get bullish. Meta has been in an uptrend for some time, so really the idea of shorting it doesn’t come into play. But if we do get a pullback, I suspect not only the trend line, but the 50-day EMA could both offer support.