Big Tech Results Revolt Wall Street

24 июл.

The big tech companies present their results this week. Alphabet and Tesla open today, followed by Microsoft, Amazon, Apple and Meta. These giants drove Wall Street's growth, but now face competition from smaller companies, helped by the Fed's rate cuts.

The Nasdaq 100 fell 3.98% last week, and analysts suggest that without solid results, tech stocks could continue to fall. The Magnificent Seven, as they are called, must show strong earnings to maintain their lead.

These companies are expected to report combined earnings of $111.14 billion, an increase of 23.88% over last year. If they manage to beat expectations, they could slow the shift to smaller companies. This week's results will be crucial in defining the future of Wall Street.

Looking at the Nasdaq chart, the price is currently at the second resistance zone formed this month. The bell indicator has marked an increase in volumes in the indicated trading zone despite the fact that its Check Point Zone (POC) is at 18,068 points below the 1st support zone of this price escalation. The RSI is oversold at 43.45%. It would be feasible that this week of results confuses the strategy of large investors who are rotating the portfolio to smaller stocks with the FED rate cuts in sight.

Ion Jauregui - Analyst ActivTrades






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