Is tech back in action?

Good morning and welcome to the most important charts of the day!

The tech sector showed impressive strength yesterday and took the hotter-than-expected inflation numbers in stride. The sector managed to regroup, as it reclaimed Wednesday’s low at 364.84 and after its 8EMA. As a result, momentum is back into this sector as it looks set for a new all time high in the coming sessions. For today, the battleground between bulls and bears will be in the 366-367 area. To show commitment to the recent candle it needs to hold above 367 and make a push towards 368.

$QQQ chart

$AAPL has been the strongest FAANG type name yesterday as it quickly reclaimed Wednesday’s high, the 147.11 pivot point and went as high as 149. For today, it needs to show commitment to this impressive candle. Holding above 147.5 is constructive with the next big resistance area its all time high at 150. Watch this stock for overall sentiment in tech.

$AAPL chart

$MSFT had an impressive rally yesterday afternoon after a period of consolidation. It showed relative strength to the overall sector as it was the only tech stock to stay green for the entire day. The next big resistance area for the software giant is 290-291. For support, it needs to defend this move by not dipping below 287.8.

$MSFT chart

$FB managed an impressive reversal after a downtrend move. Yesterday, it reclaimed 357.81 for a push above 362. Today it needs to prove it can hold above its moving averages, around 361. It is far from its all time high, and is not extended at all. Buying a dip on weakness might turn out to be a great trade in anticipation of a leg higher if tech stays in motion.

$FB chart

Have a productive trading day! For more info subscribe to one of our plans by following the link below:

Spread the love

Leave a Reply

Your email address will not be published.

Suport Us

Personal Info

Donation Total: $10.00