AAPL, AMZN and GOOG Forecast – Major US Stocks a Bit Mixed in Premarket

AAPL Technical Analysis

The market for Apple looks like it is going to be a little softer during the trading session here on Tuesday, as pre-market trading is dropping just a touch. That being said, the market is sitting on top of a pennant. And you could make an argument that we are in the midst of trying to break out. I think that’s a little messy. And really, I think the major barrier is the $260 level.

So, with that being said, I think this is a market that if we break above the $260 level, we can truly take off. The measured move of the pennant is actually basically suggesting that we could go to $290 or so. And for Apple, that wouldn’t be overly surprising. After all, everybody who owns any passive investment vehicles seems to have it.

AMZN Technical Analysis

Amazon is likely to be slightly positive during trading here on Tuesday at the open, as pre-market trading has been a little bit positive, and if we can rally from here, the market could go looking at the 50-day EMA. Breaking above the 50-day EMA, then we see the market go looking at the $237 level.

The $215 level and the 200 day EMA are both right around the same area. So, I think that it offers a nice floor on Amazon. And I do believe that a bounce from here makes quite a bit of sense, especially if the overall markets tend to lift, Amazon probably goes with them.

GOOG Technical Analysis

Google looks like it’s going to open a little bit soft on Tuesday after having a very strong session on Monday. I think at this point in time that we probably continue to see buyers on dips. $240, I believe, is going to be an area of interest with that not only being a large, round number, but also an area that we had gapped from. So, all things being equal, I do like buying Google. I just think that you might get a better price here. And that’s really the only thing that I would say that would remotely suggest negativity. I think $250 is a magnet for price. I think $260 is a bit of a barrier, but once we break that, we’ll just kick off the next leg higher.

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