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Earnings reports have sparked big swings for tech stocks. Here's what chart experts are watching

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NVIDIA Corp,Alphabet Inc,Meta Platforms Inc

These are how technical experts view the charts of companies like Meta and Alphabet after their earnings reports this week.

A whirlwind earnings week saw traders jumping in and out of some of the biggest stocks in the market. In the coming days, technical experts will be watching to see whether those moves have staying power. So far, companies with negative earnings surprises are seeing their stocks slide by 2.5% on average, slightly higher than the typical decline of 2.3% for this part of earnings season, according to a note from John Butters at FactSet on Friday.

What's next for Meta Meta looks like a potential example of the gap being filled after its sharp drop on Thursday. Stockton said the stock did cross some resistance areas and described the move as a "short-term breakdown." However, shares closed above their lows on Thursday and then ticked up on Friday. For investors who still want to sell Meta, this upward trend is a sign that it might be best to wait, Stockton said.

 

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