What Do the Chart Setups Indicate the Morning After Big Tech Earnings?

Good Thursday Morning, MPTraders! January 30, 2025-- Pre-Market Update: Apart from still unanswered questions and concerns about the impact of DeepSeek on future AI CAPEX, what do the chart setups indicate the morning after Big Tech Earnings?  After the close, a slew of potentially consequential Earnings, headlined by AAPL...

Let's cut right to the chase:

META's post-Earnings New Atll-Time Spike High at 716.00 followed by a rollover to 680 (694.40 last) is following my preferred scenario of a stock that is peaking ahead of a major correction. My attached 4-Hour Chart argues that META is vulnerable to an optimal bout of weakness into the 650 area in the days/weeks directly ahead... 

MSFT remains confined within a well-defined 7-month high level digestion period and pattern that remains intact after yesterday's Earnings report. As long as the integrity of the lower boundary one of the pattern stays intact at 405-410, my preferred pattern scenario argues for a resumption of strength that traverses MSFT from the lower boundary to the upper boundary zone at 448-456, followed by an upside thrust toward 500+.  Only a sustained breach of 405 will invalidate my current outlook... Last is 421.71...

In reaction to Earnings, TSLA initially spiked down beneath the DeepSeek spike low of 379 (1/27/25) to a new Dec-Jan spike low at 365 (see my attached 4-Hour Chart), where renewed powerful buying emerged that reversed TSLA higher, and has propelled the stock to 407-413 in pre-market trading. My pattern work argues that TSLA ended the correction from the 12/18/24 ATH at 488.54, and is in the initial stages of a new upleg that projects optimally to a next target zone of 510-520. A climb and close above 420 will add technical confidence to the budding bullish setup... Last is 407.27



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Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

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