Three US tech stocks to watch after Nasdaq 100 bullish breakout above 25,830

• Nasdaq 100 momentum has turned decisively bullish: The index broke above its 7-week range at 25,830 and has started to outperform other major US indices on a week-to-date basis, signalling a catch-up phase for US mega-cap tech.
• VARS points to emerging tech leaders: Amazon, Cisco Systems, and Meta Platforms show improving volatility-adjusted relative strength versus their benchmarks, suggesting a transition from prior underperformance to potential positive alpha generation over the next 1–3 weeks.
• Technical structures favour further upside, with clear risk levels: All three stocks have reclaimed key moving averages and seen bullish RSI breakouts, but the bullish case hinges on holding well-defined medium-term support zones that would invalidate the recovery if breached.

This is a follow-up analysis on our recent report, “Chart alert: Nasdaq 100 bullish breakout (finally) from a 7-week range”, published on Tuesday, 27 January 2026

The price actions of the Nasdaq 100 CFD index (a proxy of the Nasdaq 100 E-mini futures) have staged the expected bullish breakout above the former minor 7-week range resistance of 25,830 and rallied by almost 1% on Tuesday, and it has continued to extend its gains on Wednesday, 28 January Asian session with a rally of 0.6% to record an intraday level of 26,170 at the time of writing.

The year-to-date laggard among the major US stock indices has started to catch up. So far, the week-to-date performance as of 26 January 2026, the cash market Nasdaq 100 has recorded a gain of 1.3%, surpassing the S&P 500 (+0.9%), Dow Jones Industrial Average (-0.2%), and the small-cap Russell 2000 (-0.1%).

This report will highlight three US technology stocks (Amazon, Cisco Systems & Meta Platforms) that may outperform the Nasdaq 100 (in terms of positive alpha generation) filter by technical factors and volatility-adjusted relative strength (VARS).

In a quick note on VARS is an indicator that normalises momentum by accounting for a stock's volatility, helping traders identify genuine market strength and avoid misleading signals from high-beta, high-volatility shares.

Read more about this guide on volatility-adjusted relative strength: VARS: How to prevent the high-beta trap and find the relevant stocks

Here are the technical charts of the three US technology stocks that may generate positive alpha over the medium-term horizon (1 to 3 weeks).

Amazon will report its Q4 2025 earnings on Thursday, 5 February, after the close of the US session.

In the past three trading sessions, the share price of Amazon has rebounded and traded back above its 20-day and 50-day moving averages.

The volatility-adjusted relative strength of Amazon against the Nasdaq 100 exchange-traded fund has started to slope upwards significantly since 3 December 2025 and traded above its 50-day moving average as well as above its zero line since 26 December 2025 (see Fig. 1).

This observation on VARS suggests that Amazon has started to outperform the Nasdaq 100, a transition from its multi-month underperformance that took place from 15 April 2025 to 17 October 2025.

In addition, its daily RSI momentum indicator is also evolving in a bullish momentum condition as it managed to stage a rebound from its ascending support and crossed above the 50 level, while still below its overbought region (above the 70 level).

Watch the 226.50 key medium-term pivotal support to maintain the bullish bias for the next medium-term resistances to come in at 258.60 (current all-time high) and 275.26 next in the first step.

However, failure to hold at 226.50 and a daily close below it will jeopardize the bulls to trigger a multi-week corrective decline to expose the next medium-term supports at 211.40 and 194.70 next.

Cisco Systems will report its Q4 2025 earnings on Wednesday, 18 February 2026, after the close of the US session.

The share price of Cisco has traded back above its 20-day and 50-day moving averages.

The daily RSI momentum indicator has just staged a bullish breakout from its prior descending resistance and rebounded back above the 50 level on 26 January 2026.

In addition, the volatility-adjusted relative strength of Cisco against the Nasdaq 100 exchange-traded fund has started to slope upwards significantly since 29 October 2025 and traded above its 50-day moving average as well as above its zero line since 29 December 2035.

This observation on VARS suggests that Cisco has started to outperform the Nasdaq 100, a transition from its multi-month underperformance that took place from 27 May 2025 to 22 September 2025.

Watch the 72.80 key medium-term pivotal support to maintain the bullish bias for the next medium-term resistances to come in at 82.00 (current all-time high), 85.62, and 90.79/91.54 next in the first step (see Fig. 2).

On the other hand, failure to hold at 72.80 and a daily close below invalidates the bullish scenario to open scope for a multi-week corrective decline to expose the next medium-term supports at 68.89 and 66.50 next.

Meta Platforms will report its Q4 2025 earnings on Wednesday, 28 January 2026, after the close of the US session.

The 27% decline seen in Meta Platforms from its current all-time high of 796.25 printed on 15 August 2025 to the 19 November 2025 low of 581.25 has managed to pause right at the long-term secular ascending channel support in place since the October 2022 low.

Several positive technical elements have emerged. The price actions of Meta Platforms have formed a “higher low” on 20 January 2025, rallied by around 9.8%, and closed above its 20-day and 50-day moving averages (see Fig. 3).

The daily RSI momentum indicator has staged a bullish breakout above its descending resistance and the 50 level, which suggests medium-term bullish momentum may have resurfaced.

The volatility-adjusted relative strength (VARS) of Meta Platforms against the S&P 500 exchange-traded fund (SPY) has started to turn up (shaped a “higher low”) above zero and traded back up above its 50-day moving average. These observations suggest the relative weakness of Meta Platforms may be starting to gain back some strength.

Watch the 585.77 key medium-term pivotal support, and a clearance above 705.20 intermediate resistance may see the medium-term resistances coming in at 758.40 and 793.70 (current all-time high area).

On the flip side, a break and a daily close below 585.77 invalidates the bullish recovery scenario to expose the next medium-term supports at 516.50 and 479.80.