MSFT, INTC and AMD Forecasts – Tech Stocks Mixed Early, but Generally Positive

Microsoft Technical Analysis

The pre-market for Microsoft looks like it is going to be just a touch soft, but we are sitting right at the 50-day EMA and rates did dip a little bit earlier during the session. So, I suspect you’ve got a scenario where you are sitting right here at the 50-day EMA, rates still somewhat elevated but going in the correct direction.

I think the bullish flag that we’ve been building here might end up being a buying opportunity heading towards the 200-day EMA. But again, this is going to come down to how those interest rates behave. All it’s going to take is one bad headline out of the Middle East, and unfortunately, that’s the world we live in right now.

Intel Technical Analysis

Intel is going to refuse to acknowledge gravity for the rest of my life, it appears. The market is gapping higher yet again in pre-market trading, and at this point in time, this is a market that, although I wouldn’t short it, you certainly have to look at it through the prism of an extraordinarily bullish market.

In fact, we could drop all the way down to $65 just to fill the gap in earnings. We’re now at $108 with the open looking closer to 113. This is a market that is just on fire. So, with that you have to be very careful, but buying on the dip could work for short-term intraday trades. A more significant drop offers a longer-term buy and hold scenario.

Advanced Micro Devices Technical Analysis

AMD is going to absolutely scream to the upside right off the open, gaining somewhere in the neighborhood of around $75 right off the bat with earnings beat and interest rates driving. It looks like the AMD forward guidance really has the market excited as well.

So again, this is one you want to buy, but you want to buy on a dip. Really, at this point in time, this thing could drop $30, $40 and still be a buy on a bounce. Make sure you get on the right-hand side of the V and make sure you don’t get too big, at least not initially. You can build along the way, but with this type of price action, if you’re already long, you’re extraordinarily happy. If you aren’t long, it’s kind of difficult to get involved. This is a skill that most traders fail at.