The three stocks in this analysis all look as if they are going to rally going forward, even AMZN, which is down every so slightly in the premarket. Ultimately, this is a market that is strong, and it makes sense that the favorites all attract attention.
Apple looks like it is going to gap much higher as we open up the session here on Thursday, after a strong earnings report a couple of days ago and some lackluster behavior, it looks as if Apple is going to produce Samsung chips in Texas. So that helps them get around the tariff situation. And that’s a big deal. We are going to fill the gap. The question is, can we take out $225 to the upside? Because if we can, Apple could very well take off.
Amazon looks like it’s going to open a little bit lower, but nothing of consequence as we are still fighting to fill that gap after what was a reasonable earnings call, except with the AWS online computing, cloud computing, system. So there is a little bit of concern there, but ultimately, I suspect that we do grind our way to the upside and try to fill that gap.
Google looks like it’s going to open a little higher for the session here on Thursday. If we can clear the $198 level, then we will threaten $200 and then perhaps $206. If we pull back at this point, I see plenty of support underneath, especially near the $190 level, as we continue to consolidate as we have been for about two weeks now. Either way, it is a bullish market. I have no interest in shorting it, and eventually, I do expect Google to go looking towards the highs again.
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Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.