U.S stock futures flat ahead of major tech companies’ earnings

The U.S. stock market is set to open at a neutral level as traders await the release of major tech companies this week. Microsoft, Meta, Apple, Amazon, and Alphabet are among the companies that will report earnings results this week. At the current time, the stock market might continue its bullish movement and traders will wait for the index to start a new bearish correction to add long positions at a lower level.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index moved further upside last week and formed a new higher high. The index might continue the bullish trend without a major bearish correction. Traders will continue to maintain a bullish outlook and await a bearish correction for a chance to add long positions in stocks at a lower level.

Baxter International Inc (BAX)

BAX share prices look challenging the daily SMA 200 and seek to break out from the resistance level. We expect the share prices to continue to build bullish pressure and eventually break out from the daily SMA 200. Traders could wait for a correction toward the averages when a breakout happens for a chance to add long positions.