Tech Stocks Forecast – SMCI, SpaceX, and Cisco Eye Post-Earnings Levels

SMCI Technical Analysis

Super Micro Computer looks like it’s going to be a little bit lower at the open based on premarket trading, but we’ve had an explosive move since the earnings call. Quite frankly, there are more likely than not going to be traders out there looking at this as a potential buy on the dip market, as we had filled a gap from back in June, gave back those gains, maybe gravity came back into play, but the volume has picked up excessively after that earnings call with Super Micro Computer looking very positive at the moment, and looking like a market that is picking up momentum in general.

SPCX Technical Analysis

SpaceX looks like it’s going to continue to see buyers coming in on dips, as the selling pressure on yesterday is just about swallowed up by premarket trading. This is a market that had an IPO that just took off and then collapsed. And now looks like it’s going to attempt to reach the $150 level again based on the candlestick from the previous session. It looks like it’s going to open up right around the $143.75 range. Pretty strong move off of the bottom after the earnings call, and now it looks like perhaps value hunters have gotten involved.

CSCO Technical Analysis

Cisco looks like it’s going to be a little bit noisy, maybe just a touch negative at the open. It is sitting in a major area of support just underneath the 50-day EMA, so that could come into the picture as well. The $110 level seems to be in an area that has held the market up for a while. We’ll see if that plays out. We’ll see if the gap gets filled. The neutral candlestick from the previous session at least suggests that the shock during the earnings call is at least abating a bit. So this one might be interesting to watch.

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