AAPL, AMZN and GOOGL Forecast – Major Stocks a Bit Mixed

AAPL Technical Analysis

Apple looks as if it is going to gap lower to kick off the trading session on Monday, but really at this point in time the market is basically in a consolidation area between the 50 day EMA on the bottom and the 200 day EMA on the top. So, if we can break above the 200 day EMA, it’s possible to move to the $223 level. A pullback to the 50 day EMA is possible as well, but I still think that opens up the possibility of buying on the dip. Apple, of course, has an earnings call on the 31st. And the closer we get to that, the more likely we are to see a bit of hesitation.

AMZN Technical Analysis

Amazon is more likely than not going to open roughly 10 cents higher than it closed. A short-term pullback makes a certain amount of sense. We could see this market head back down to the $215 level, which is an area that previously had been resistant. So now we could be talking about support. It’s also worth noting that the 50 day EMA is racing towards that area as well. So it could very well end up being an opportunity for support. Either way, this is a market that I think is bullish overall. And eventually we’ll try to get back to the $242 region where it had peaked previously.

GOOGL Technical Analysis

And finally, Alphabet looks as if it is going to open the Monday session down a bit as it looks a lot like a market that is finding quite a bit of resistance near the $181.50 level. It’ll be interesting to see how this plays out. But you know, again, we have an earnings call here on the 29th that will be a major driver. There is a lot of supply above the $181.50 level. So, I think we continue to consolidate overall, but it certainly looks as if it’s a market that is trying to squeeze to the upside. So, I like the idea of buying pullbacks, with the 50 day EMA hanging around the $171 region. It just crosses the 200-day EMA, which, of course, is a bullish sign as well. So, squeezing higher makes a lot of sense eventually.

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