tech
What the 'Magnificent Seven' charts are showing ahead of earnings, according to Katie Stockton
Alphabet, Amazon, Meta, Microsoft and Apple all report this week. Combined, they make up 24% of the S&P 500.
TL;DR
- Alphabet (GOOGL) is approaching resistance near $349; a breakout could target $400, but overbought conditions are a concern.
- Apple (AAPL) is in a consolidation pattern, with a potential breakout above $270 targeting $315.
- Amazon (AMZN) is testing breakout resistance near $259; a confirmed breakout targets $293, but the stock is deeply overbought.
- Meta Platforms (META) is testing threefold resistance in the $680-$690 area; a breakout targets $794.
- Microsoft (MSFT) shows a unique technical setup with a recent breakout above the 50-day MA and potential resistance near $450.
- Earnings reactions from these large-cap stocks will significantly influence the broader market's direction.