MSFT, ORCL and GOOG Forecasts – Tech Looking to Continue Rally

MSFT Technical Analysis

Microsoft looks like it’s going to jump a bit in the pre-market on Thursday as we continue to see a lot of buying pressure. The market has broken cleanly above the 50-day EMA and after the beatdown that Microsoft has experienced over the last several months, this could be the beginning of a turnaround.

At this point though, I’d be a little bit careful buying. I would look for short-term pullbacks to get involved and recognize that it is going to be a bit of an uphill climb for Microsoft. Given enough time though, I do think it recovers fully, it has done that for decades so there is no reason to think that changes.

The next earnings report comes out on the 29th, so you’ve got a little bit of time before that hits. The market will probably continue to aim towards the 200-day EMA, perhaps even the $480 level. I think support finds the 50-day EMA as a likely place, and then after that, you have $380 offering support.

ORCL Technical Analysis

Oracle looks as if it is trying to get to the 200-day EMA. Short-term pullbacks, I think, show a lot of support near the 50-day EMA at $156.50. I do think we’re in the process of building a bottoming pattern, a rectangle, if you will.

I do think we are trying to turn things around for a bigger move. It’s going to take some time, but eventually I anticipate that we will break out based on the volume that we’re starting to see. That is a good sign, this is a classic accumulation phase. Whether or not it takes off now is really the only question in my mind, at least. The $140 level continues to be a floor.

GOOG Technical Analysis

Google looks like it’s going to basically open up where it is closed. This one’s been flying high for a while after bouncing off the 200-day EMA a couple of weeks ago.

It is a buy on the dip market, probably one that’s got less momentum at the moment than the others, at least over the next couple of days, just because it’s overextended. Certainly, nothing on this chart tells me that I should get short of it. I like finding a little bit of value and taking advantage of it on those pullbacks.

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