MSFT, ORCL and TSLA Forecast – Major Tech Stocks a Bit Flat in Premarket Trading

MSFT Technical Analysis

Microsoft looks like it’s going to open up flat to maybe just a little bit lower on Friday as we continue to see technology stocks get a bit of a boost. But at this point in time, the market might be just a little overstretched and with earnings coming out on the 29th next week, that might have some people taking a little bit of a pause here and looking to find value.

While earnings aren’t necessarily expected to be drastically negative or anything, it does cause volatility that a lot of traders might try to get away from. Underneath we have the 50-day EMA near the $430 level, and then we have the 200-day EMA near the $418 level. This is the top of a channel that we’ve been in for a while, going back to roughly July. So, a little bit of a pullback would make some sense, but that should only offer value in the end.

ORCL Technical Analysis

Oracle looks like it’s going to open up a little bit to the upside. This seems to be a continuation, if you will, of the AI trade after the announcement of the huge infrastructure being built in the United States. The $200 level above is a major psychological and structural barrier. So, it’ll be interesting to see whether or not that can get overcome. If it does, that would be the next leg higher just waiting to happen. So, Oracle has an earnings call, but it’s not until the 13th of February. So, we are clear of that. I think it remains a buy on the dip.

TSLA Technical Analysis

Tesla looks like it’s going to open up slightly higher just a few days ahead of its next earnings call on the 29th of next week. But it’s worth noting that we recently bounced from the 50 day EMA and it does look like Tesla has momentum overall. I have no interest in shorting this market and I do think that pullbacks, especially towards the 50-day EMA, should end up being buying opportunities. If we can break above the $440 level, then it opens up a move to challenge the $500 level yet again.