ORCL, AVGO and MU Forecast – Technology Stocks Noisy and Looking for Momentum

ORCL Technical Analysis

Oracle looks as if it is going to try to continue its recovery, but quite frankly, I think Oracle is a stock that you need to stay away from for a while as the debt is really starting to pile up. After all, Oracle is knee-deep in the AI race and a lot of the news coming out of data centers is not good, and Oracle is on the hook for a lot of those costs.

With that being said, I think the $178 level—an area that was the bottom of a gap to the upside back in June and was support here recently—is probably about as high as this market can go. If we can break above $178, then the market could really start to rally towards the $200 level, but that would take a complete turnaround. As things stand right now, it looks like we are in the middle of trying to turn things around and find a bottoming pattern, but I think even if that does end up being the case, this is not going to be a V-bottom pattern; it is going to be something that takes time to play out.

AVGO Technical Analysis

Broadcom looks like it is rallying a little bit after a very positive Monday session, and on Tuesday we will be eyeballing the $360 level. If we can clear that, then Broadcom probably has further to go, perhaps $400. Software companies have done a little bit better as of late; that has pushed the tech sector a little higher overall. We might be seeing a little bit of follow-through here; we will just have to wait and see. We had tested the 200-day EMA previously and it did hold for what that is worth.

MU Technical Analysis

Micron’s down a little bit during the early hours on Tuesday, but we will have to wait and see whether or not this leads to further selling or more consolidation as we have seen over the last 3 trading sessions. The $350 level underneath there continues to be important as it was previous resistance and a psychologically important figure. Breaking down below there could really unleash a lot of selling pressure, but as things stand right now, it looks like a market that is just trying to find its footing and then perhaps continue the uptrend.

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