NVDA, TSLA and MSFT Forecast – US Tech Looks Strong

NVDA Technical Analysis

Nvidia looks like it’s going to open positively on Friday as the pre-market trading continues the upward momentum. This market has just made an all-time high on Thursday, and therefore, I think there is a certain amount of interest here as momentum chasers will certainly be part of this. And we have gained about 50 % since April. So, obviously, a very hot stock at this point. Now we have to ask if the previous all-time high, right around the $153 level, will offer support. So far, it looks like it is in fact going to, even if we fall from here, I suspect the $150 level is also an area that people will be looking to get involved to the upside.

TSLA Technical Analysis

Tesla looks like it will open positive for the session, albeit slightly. We are in the midst of consolidation, and we are getting close to the 50 day EMA, so technical traders will take note of this. It’s worth noting that the $369 level has acted like a major ceiling and the second attempt to get up there, we couldn’t even get to it. So, I suspect we’re probably going to have a little bit of volatility compression here before we end up making a much bigger move. Nonetheless, I am positive on Tesla longer term. I just think you have a situation where there’s a lot of noise at the moment.

MSFT Technical Analysis

Microsoft looks a little bit flat in pre-market trading, but all one has to do is look at the charts from the earnings report on the 30th of April. And it’s been a straight shot higher at this point. And I do get a lot of questions about this particular stock. At the very least, you would need to see some type of pullback from the shot higher, and a 50 % retracement could have dropped all the way down to $460 and that doesn’t even include the gap.

If you take the gap into account, then a 50 % pullback has this market dropping to the $445 level. The problem with that, of course, is we may or may not get that in the near term, but regardless, if you’re not already involved in Microsoft, you desperately need a pullback in order to justify putting a lot of money into a market that has rallied as much as this one has. Still, it’s a very positive sign for tech overall.

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