Apple Technical Analysis
Apple looks like it is going to be pretty much where it left off during the previous session as we sit just above the 200-day EMA. This is an area that I do find somewhat interesting, but I need to see some type of risk-on behavior to start buying stocks in general. This is a market also that I think has potential to go much higher over the longer term, but there was a downgrade by Citigroup due to the input cost of memory from 330 to 315.
Even if that were to come to fruition, that is still a sizable gain from here. We are also testing the 38.2% Fibonacci retracement level, so that might be worth watching as well. Again, a bounce to me is something that is very interesting.
Amazon Technical Analysis
Amazon looks like it is going to be a little bit softer at the open during the trading session, as we are now between the 50-day EMA and the 200-day EMA. This is a market that I think probably just grinds back and forth, and much like Apple does, Amazon has an earnings call here in the next week or so, and that obviously will have a major influence on where we go next.
Right now, the markets are being knocked around by the headlines with Greenland and tariffs, so I wouldn’t read too much into the negativity in any particular company. Quite frankly, I think this is just a market-wide phenomenon.
Google Technical Analysis
Google looks like it is probably going to drop a bit as well, but quite frankly, we are pretty close to the highs. I look at this as a potential buying opportunity and would be watching the 50-day EMA near the $307.76 level, possibly even above there. The $290.00 level underneath that level has been important multiple times in the past as well, so I think we’ve got a situation where we will be buyers of dips.
But again, this is more about the macroeconomic noise and geopolitics than anything else. This generally offers a lot of opportunity, though, unless of course you think the United States and Denmark, France are all going to get into a hot war. Most of this is nonsense that will blow over if you are careful and patient about dipping your toe into a position on a drop and a bounce. Most of the time, these things pay off quite nicely.
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