MSFT, GOOG and META Forecast – Major Stocks Wait for After-Market Earnings

MSFT Technical Analysis

Microsoft has gapped a little bit higher in pre-market trading on Wednesday as we wait for the FOMC decision and, of course, the earnings call at the end of the day. We are threatening a breakout, and if we can get above the $550 level, it would be a fresh new high for the market. There are a couple of gaps below that still need to be filled, and that might be something to keep in mind, but those should represent buying opportunities if we get down to those levels.

The 50-day EMA is sitting right around the $514 level, followed by the $500 level, which has been significantly supported. All things being equal, this is a bullish market. I have no interest whatsoever in trying to short this market, but finding a bit of value is not necessarily a bad thing.

GOOG Technical Analysis

Google looks like it is going to rise a bit as well, and just like Microsoft, it does have an earnings call after the bell closes. We also have the central bank decision, so that, of course, will come into play a little bit. Right now, though, it looks like the market is pretty positive. A short-term pullback would be a nice buying opportunity from what I can see—unless, of course, the earnings report was horrible. But at this juncture, this is a market that is looking at this through the prism of artificial intelligence more than anything else. It’s a bubble. The bubble continues to inflate, and Google, of course, is one of the beneficiaries.

META Technical Analysis

For Meta, the market is pretty flat during the pre-market session on Wednesday. Ultimately, this is a market that has a little bit of a gap underneath to fill. And just like the other two stocks, it does have an earnings report after the bell. The 50-day EMA is sitting just below the $735 level and rising, and I think that’s your short-term support. I like the idea of buying pullbacks and aiming for the $800 level.

Ultimately, though, this is a market that you could argue is in a larger consolidation area and has not been able to break out of it. We are directly in the middle of that, so we might be closer to fair value than most people realize. Volume is pretty steady, nothing to write home about—but again, I like buying dips.

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