MSFT, META and NFLX Forecast – US Stocks Look Towards Earnings Calls

MSTF Technical Analysis

Microsoft has risen a bit over the last couple of days, but in pre-market trading it looks very quiet on Wednesday. This does make sense, as we have an earnings call after the bell and that will obviously cause a lot of volatility. The $400 level above is an area that I’d be watching as potential resistance. If we can break above there, that would more likely than not end up being a very bullish sign as we would then start to attack the 200 day EMA. Anything above the 200 day EMA is obviously bullish and then we start to talk about trying to get back to the $450 level. A short-term pullback should see a bit of support near the $380 level.

META Technical Analysis

Meta also has an earnings report after the bell, and at this point in time, it is approaching the 200-day EMA. It looks like it is going to open the session down a bit, and I think that probably makes sense. You’ll see people jockeying for position during the day, trying to gamble on what the earnings call is.

I don’t necessarily think that this is a market that you’re looking to buy yet, at least not until after the announcement and after we clear the $580 level. In the meantime, it does look like it’s trying to consolidate and perhaps form a bit of a base. So that in and of itself is somewhat bullish, but I just don’t think we have momentum yet.

NFLX Technical Analysis

Netflix, on the other hand, is going to open the session down a bit, but it is extraordinarily extended at this point in time, as in the last say two weeks, three weeks, we’ve launched from the 200-day EMA at roughly $840 to reach the $1,125 level during the Tuesday session. So, a little bit of a pullback makes sense.

I would keep an eye on a couple of major levels in the form of $1,000, and that assumes that we can even get there. And then again, I would watch this latest swing high right around $1,060. So, there are a couple of places that I think the buyers will be waiting. And if we cannot break down below $1,090, that tells you that we still have a ton of momentum here.

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