NVDA, AVGO and ORCL Forecast – Major Tech Stocks Look to Recover on Thursday

NVDA Technical Analysis

NVIDIA looks like it is going to do everything it can to rally during the trading session based on pre-market action, and it is worth noting that the $170 level is an area that a lot of people have been paying attention to for a while. So, quite frankly, I do not find this overly surprising, and I suspect it is probably only a matter of time before we find ourselves doing a little bit of bouncing.

Whether or not that continues to be the case remains to be seen, but it’s probably worth noting that traders tend to hold this stock in a lot of passive investments. So, I do think that there’s an underlying bid at just about any given moment when it comes to this market. With that, I do expect it to recover over the next couple of weeks.

AVGO Technical Analysis

Broadcom looks like it is trying to jump as well. I believe given enough time, we have a situation where traders are going to look at this through the prism of whether or not there is an overall rally in general, and whether or not that extends across the board. I do think Broadcom is positioned for a bit of a recovery after a nasty earnings call and perhaps an outlook talking about concerns about AI. I suspect it’s been a little overdone here, and traders will probably look to get involved.

ORCL Technical Analysis

And finally, Oracle, the name and earnings call that kicked off a lot of the ugliness around the AI sector, looks like it is trying to bounce a little bit as well. So, I think we might have a shot at a little bit of a bounce back kind of trade. I do think that ultimately, this is a market that will end up being a value play after the massive sell-off that we have seen.

The problem with something like this, of course, is that it does tend to be very noisy. You need to be very patient, and you need to have nerves of steel if you step in and start buying. Nonetheless, it’s still a viable business and the earnings were good, it was just that the outlook for AI spooked everybody.

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