AMZN, MSFT and META Forecast – Major Stocks Look to Recover on Wednesday

AMZN Technical Analysis

Amazon has the look of a market that’s going to gap to the upside at the open on Wednesday. All things being equal, the question will become whether or not we can break above the top of the nasty candlestick from Tuesday because if we can, which would basically be $228.15, then Amazon will have proven itself to be very strong. The question at this point is, do we have that type of momentum? Regardless, I don’t have any interest in shorting, at least at this point in time.

MSFT Technical Analysis

Microsoft is slightly positive in pre-market trading, and we continue to see the 50-day EMA offer support right along with the $500 level. If we can break above the $520 level, then the Microsoft market could climb to the $550 level. Ultimately, again, I don’t want to short this market, and I think that if we do start to pick up a little bit of momentum during the day, Microsoft might be something that I add to my portfolio.

META Technical Analysis

Meta looks like it is going to gap to the upside a little bit at the open as well, as it looks like we are going to continue to see a lot of back and forth trading with the 50 day EMA offering support. To the upside, we still see a lot of massive resistance near the $800 level. The 50 day EMA being broken to the downside could open up Meta to drop to the $700 level, filling a massive gap. But to be honest, we spent most of our time over the last couple of weeks filling most of that gap. So, I don’t even know if I believe that. We are still very much in an uptrend, and I would have to look at this market through that prism, looking for an opportunity to get long.

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