Tech Stocks Eye Post-Earnings Momentum as SMCI, SPCX, and CSCO Trade

Pre-market trading in tech stocks showed promise on Monday, according to FXEmpire's analysis. Super Micro Computer (SMCI) experienced a significant move upwards after its earnings call, with some traders eyeing it as a potential 'buy on the dip' opportunity.

The stock has filled a gap from June and given back gains, but volume has picked up substantially since the earnings announcement. SMCI looks positive at this point in time, with momentum building in general.

Meanwhile, SpaceX (SPCX) continues to attract buyers on dips, as selling pressure from yesterday has been largely absorbed by pre-market trading. The company's IPO had a rapid rise followed by a collapse, and now it appears to be attempting to reach the $150 level again based on its previous session's candlestick pattern.

Cisco (CSCO) is expected to be 'a little bit noisy' at the open, possibly with a touch of negativity. It is currently sitting just below the 50-day EMA at $114.93, with support coming from beneath this level.