Market review from UTEX – week 30

Another hot week has started. Corporate and macroeconomic news are a bit on the back burner, as on Wednesday we are expecting a scheduled meeting of the Federal Reserve. Most likely, the rate will be raised by 0.25%. But the most interesting will be at the press conference at 18:30 UTC, when Powell will give his comments. 

This week's top 5 stocks

Microsoft (MSFT). The locomotive of the entire technology sector reports after the close today. In a few hours we'll find out how much the AI market explosion has affected the company's earnings. Recall that in January, it was reported that Microsoft was investing $10 billion in OpenAI, the creator of ChatGPT. Most likely, as with the Tesla report, the reaction will be mixed, while we are waiting for $400 in the mid-term.

Alphabet (GOOG) will also report today. The battle for leadership in artificial intelligence is unfolding before our eyes. We're betting on Microsoft to win. Google could go into a correction to $105-110.

Meta Platforms (META). Another giant will report Wednesday after the close. The company will show the first numbers on its new Threads app, a competitor to Twitter, and more importantly, announce forecasts. The stock has corrected from local highs in recent days, we expect good levels to buy from $280.

eBay (EBAY). The lightly-beleaguered marketplace continues to perform, but the bigtech rally has bypassed it. After Wednesday's report, if there are no surprises, we expect a smooth rise to $50+ levels.

Crypto is back in our weekly review. The uncorrelation with NASDAQ is already so great that the convergence could begin rapidly, especially with all the FAANG companies about to reveal numbers. Buying the range is strongly not recommended, trade only after the first serious movements of 10-12% followed by consolidation.

Profitable trading to everyone!