Here are five charts I'm watching closely heading into next week.
🔹 $Micron Technology(MU)$ — A Tactical Bounce or a Bullish Reversal?
The weekly candle was indecisive, which isn't ideal for a bullish reversal setup. Still, with the stock oversold and testing support at the 30-week moving average, a bounce is worth considering.
The key level is $912. Reclaiming it would help distinguish a tactical bounce from a more convincing bullish reversal.
🔹 $Alphabet(GOOG)$ — Deeply Oversold
$GOOG is extremely oversold relative to its Bollinger Bands and across multiple oscillators. Its P/E ratio is also reportedly at a multi-decade low, a level not seen since 2012.
Be careful chasing the downside here. When a stock is this stretched, the risk of a sharp rebound increases.
🔹 $Microsoft(MSFT)$ — Compression Before the Next Move?
Price action has returned to a compression phase. The question is whether this consolidation sets up another leg higher.
Bulls need to reclaim $526 and hold it as support next week to keep momentum intact.
🔹 $Qualcomm(QCOM)$ — Earnings Week Setup
$QCOM reports earnings this week. The stock is oversold and testing the lower edge of its volume shelf, while an upside gap remains near $179.
The loss of the 200-day moving average has weakened the technical picture. If technicals could predict earnings, this might look like a short-term event — but the report itself remains the key catalyst.
🔹 $iShares Russell 2000 ETF(IWM)$ — Bollinger Band Reversal
$IWM delivered a textbook move from the lower Bollinger Band to the upper band.
To preserve its bullish potential, price needs to find support at the 20-day moving average, while the Central Weekly Level (CWL) must continue holding as support next week.
The common theme: oversold conditions can create opportunities, but confirmation at key support and resistance levels matters more than simply trying to call a bottom.
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