SMCI, NVDA, and CSCO – Tech Stocks Stabilizing?

SMCI

Super Micro Computer is looking a little bit positive in pre-market trading, although just barely. This is a market that has recently broken to the upside after the earnings call. And it looks like yesterday, on Wednesday, it tested the $35 region for support. If it bounces from here, the recent resistance at $40 comes into focus. We’ve recently seen a nice bounce. Now the question is, will it have any follow-through? There are a lot of things working against the bullish scenario at the moment, but it is worth noting that the indices in the stock market continue to grind higher overall. So it might end up being one of those situations where everything moves in the same direction.

NVDA

Nvidia looks like it is going to rally just a touch in early pre-market trading. It’s recently been consolidating between $215 and $225. Interest rates starting to roll over could help, but we’ll just have to wait and see how that plays out over the longer term as traders continue to navigate quite a bit of noise from a macroeconomic standpoint, with the markets clearly having a lot to think about.

CSCO

Cisco looks like it is going to open up just slightly positive. It has been bouncing around between $110 and $125 as of late. The earnings call did have people worried. It wasn’t the numbers; it was actually the statements afterward about AI data centers and, like, but. If the market bounces from here, the 50-day EMA is just above that. Could be a technical place where traders look for a little bit of trouble. It’s early to tell, but there’s also a gap from the previous earnings call in May, all the way down to $101. And if the gap were to get filled, it could get pretty bearish pretty quickly.