AAPL, AMZN and GOOGL Forecast – Major Tech Stocks Pull Back

AAPL Technical Analysis

The Apple market looks a little soft in the early part of the trading session here on Monday, but that being said, we had an explosive move higher over the last couple of days. So, I think a pullback probably only entices more buying before it’s all said and done. Massive support should be expected near the $215 level or so, as there is previous action there and of course, the 200 day EMA.

AMZN Technical Analysis

The Amazon market looks a little bit soft, as it looks like we could pull back towards the 50 day EMA, but I think there’s plenty of support here also at the $215 level, as well as the 50 day EMA at the $221 level and rising. Ultimately, this is a market that I think given enough time will have to sort itself out. But I also recognize that there is still part of a gap left to be filled, which means we could rise all the way to $233 before it’s all said and done.

GOOGL Technical Analysis

Google has pulled back a bit. But again, this is a situation where the market has gotten so extended to the upside. It’s not a huge surprise. There is a significant amount of support near the $197 level extending all the way down to the $190 level. So, I do think you’ve got a situation where Google is going to be a buy on the dip market, perhaps trying to get back to that $208 level where we had gapped down from back in February.

This will be a grind higher more than anything else from what I see. And therefore, I like the idea of looking for a little bit of pullback in order to find some value.

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