TSLA, NVDA and MSTR Forecasts – Technology Stocks Drop as Rates Jump in America

TSLA Technical Analysis

Tesla looks like it’s going to gap lower to kick off the trading session on Friday, which is not a huge surprise considering just how much trouble the interest rate markets are bringing to high-flying technology stocks. Tesla is a little overextended anyway, so it would not surprise me at all to see it pull back towards the $420 level, an area that previously had been important as both support and resistance.

I think there’s probably a little bit of market memory there that comes into the picture as we head into the weekend. With higher rates, people are going to be nervous.

NVDA Technical Analysis

Nvidia also looks like it’s going to break down a bit at the beginning of the session, but quite frankly, it desperately needs to. It went straight up in the air over the last couple of weeks and a little bit of a pullback does it a good amount of justice. I think perhaps we could even see Nvidia drop down to the $220 level, an area that previously had been resistance and should now be supported. I like the idea of buying cheap stock if and when it’s offered.

MSTR Technical Analysis

MicroStrategy looks like it’s going to be a little soft at the beginning of the session as well, but quite frankly, this is a market that has a lot to prove anyway, due to the fact that the whole thing is based on Bitcoin.

MicroStrategy finds itself between the 200-day EMA and the 50-day EMA indicators consolidating. I think that probably is what we do for the rest of the day as well, if not drop a bit to head toward the 50-day EMA. I am not particularly fond of this stock, but a short-term bounce could offer a short-term buying opportunity after we drop at the open. I’d watch the area right around $174.

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