Tech stocks are showing diverging technical setups, with bearish signals emerging in $NVDA, $GOOG and $NOW, while $TSLA consolidates near key moving averages.
$AMZN is approaching a potential bullish reversal, and deeply oversold $META could be setting up for a relief bounce.
Here are the key levels and setups to watch π
π $Tesla Motors(TSLA)$
Consolidation signals are emerging.
Mean reversion toward the rising 20-day moving average is common in this setup, and that average is approaching the 200-day moving average.
Could $380 be next?
π» $NVIDIA(NVDA)$
A bearish engulfing candle points to possible downside continuation.
With the close below the next sessionβs central level of 216.6, the technical targets are 213.2 (-1.0%) and 211.1 (-2.0%).
π $Alphabet(GOOG)$
A major gap down may be coming.
The setup resembles one from three months ago that was followed by a rapid gap fill.
The Stochastic oscillator is deeply oversold, similar to the period following last quarterβs earnings selloff.
β‘ $Amazon.com(AMZN)$
The chart would normally suggest a textbook bullish reversal.
But moving-average resistance and broader market pressure could stand in the way.
Will earnings be enough to invalidate the bearish pressure?
π» $ServiceNow(NOW)$
The reversal following the upper Bollinger Band breach remains in play.
After-hours selling has pushed the stock below its 20-day moving average near $145, putting the lower Bollinger Band around $129 in focus.
β οΈ $Meta Platforms, Inc.(META)$
Deeply oversold conditions could set the stage for a sharp relief bounce.
Shorts should protect gains and manage risk closely as the potential for a reversal grows.
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