TSLA, Meta and GOOGL Forecast – Tech Giants Trying to Push Higher in Premarket Friday Trading

TSLA Technical Analysis

Some of the biggest technologically driven names in the United States are trying to turn things around and Tesla is a prime example. After all, we had seen a massive drop on Thursday, but in pre-market trading on Friday, we are up a couple of dollars. The question is whether or not we can stabilize, but I also recognize that if we do continue to drop from here, then the $360 level could end up being pretty significant support, not only due to the fact that it had previously been resistance, but it’s also where the 50-day EMA is hanging around.

You could also make an argument for some type of Fibonacci retracement study to come into the picture as well, as the 50% Fibonacci is sitting just below that level, adding more intrigue on a dip to that region. The question, of course, is will you get that opportunity, or will Tesla turn right back around and take off?

Meta Technical Analysis

Meta has done fairly well over the last couple of days. And in the pre-market trading of Friday, it looks like it is going to try to continue to go higher. And at this point in time, I don’t really see much to worry about at this juncture, but I also recognize that liquidity is a little thinner than usual.

The 50-day EMA seems to be offering pretty significant support, almost like a trend line and it’s a slow and steady grind higher, which is what you want to see with one of these monster companies as it leads to a more sustainable growth path. Looks pretty bullish to me and I remained positive on Meta.

GOOGL Technical Analysis

Alphabet looks like it’s trying to turn things around early on Friday in pre-market trading, although just slightly. It is worth noting that the Thursday candlestick ended up being a hammer at an area that I think would probably offer a little bit of support anyway. If we can break above the $190 level, and it looks like we very well could, then you would expect a significant attempt to get to the $192.50 level, and then possibly the $195 level.

If we do break down from here, I’ll be watching this market right around the $180 level for a potential buy on the dip scenario. Remember that these stocks all have earnings calls within the next couple of weeks, so that might keep them a little bit calmer than usual.