AAPL, AMZN and GOOG Forecast – Major Stocks Look Mixed

AAPL Technical Analysis

Apple looks like it is going to be a little sluggish early during the trading session on Tuesday, but I do like where it’s at. I think you have the possibility of the $250 level acting like a potential floor in the market. The market has been very resilient. I think this pullback, if it gets bought into, probably signals that we have a hard floor underneath, and that would be a very good sign going forward.

We do have earnings coming out, but that is the 29th, so we’ve got a couple of weeks. I think, really, at this point, we are looking for a reason to go higher.

AMZN Technical Analysis

Amazon does look like it’s ready to pull back here. That’s fine, it’s at a major resistance area, so why wouldn’t it? With that being the case, I think you have to look at this as a potential buy on the dip market, but I would let it come back quite a bit, maybe $7 or $8, before I thought about that.

I really don’t have any interest in trying to get too cute here. I think you’ve got a situation where eventually we break to the upside, but we’ve got some work to do. The 50-day EMA is at the $232 level for what it’s worth.

GOOG Technical Analysis

Finally, Google looks like it’s off to the races. I think it’s a very bullish sign, and we will just continue to go higher. Ultimately, I think this is a scenario where Google will continue to capture quite a bit of momentum and continue to lead the AI race on a whole host of reasons.

Over the longer term, it looks like we’re going to try to get to the $350 level. With that being the case, I am a buyer of each and every dip. With the 50-day EMA sitting at $302, that’s also a good place for support if we do get a correction.

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