Tech Stock Update: Top-Down Analysis on ORCL, NVDA, AMD & More

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The Fed came out with its 25-basis-point cut yesterday, followed by the press conference, and to me, Jay Powell seemed pretty dovish. But then Oracle reported and had some funky earnings, and the market reacted.

So I’m taking a quick peek at a handful of tech stocks — including Broadcom, which is posting earnings this afternoon.

As always, I’m looking at price action, market timing, and momentum. 

Let’s walk through a top-down look — starting with the bigger picture and working down.

1️⃣ Oracle (ORCL)

On the monthly chart, Oracle is still in a pullback that began in September, with the April low acting as major support on the bigger timeframe.

On the weekly chart, price is sitting above the week ending November 28th low, which becomes nearby support.

On the daily, we haven’t actually broken the recent support levels. The key resistance I’m watching is still the November 20th high, not the December 10th move. I also want to see how today’s gap forms and closes.

2️⃣ NVIDIA (NVDA)

Nvidia has been correcting on the monthly and weekly charts, with the early September low still the anchor level.

On the daily chart, the bounce off late November hasn’t turned into a full Bullish reversal yet. The November 20th high is the main level to watch for a shift.

3️⃣ AMD (AMD)

On the monthly chart, AMD formed an inside bar in November, holding inside October’s range.

The daily chart shows a market that may want to roll over a bit more. A return to the November 25th range wouldn’t be surprising, and that’s where I’d reassess.

4️⃣ CoreWeave (CRWV)

There isn’t much long-term history here, but the weekly chart gives a clearer view: sideways action after IPO, a strong run-up, and now a pullback into Bull Support on RSI.

On the daily chart, CoreWeave still looks relatively healthy and may be working its way back toward the October 22nd area.

5️⃣ Broadcom (AVGO)

On the monthly chart, AVGO has repeatedly pushed into Bull Resistance on RSI during its longer-term trend.

The weekly chart shows a momentum disconnect, so I wouldn’t be eager to enter new long positions strictly from that timeframe.

The daily chart is more constructive. The December 3rd low is supporting the latest move higher, and staying above it — even with earnings incoming — could open the door for another push up. If that level breaks, focus shifts to the mid-November lows.

A Final Note

When one stock moves big on earnings, related stocks often echo that volatility. That can create setups that fit your plan — especially when you’re using a top-down approach to anchor your levels.

If this refresher helped, go ahead and like the video.

~Hima