AAPL, AMZN and GOOGL Forecast – Major US Stocks Quiet in Premarket on Thursday

AAPL Technical Analysis

Apple looks like it’s going to perhaps gain a little bit at the open, but it’s probably worth noting that Apple is stuck at a major resistance barrier in the form of the 200-day EMA and the support level in the form of the 50-day EMA. It’s also worth noting that right around the $215 level, there has been a reasonable amount of resistance as of late, which is right where the 200-day EMA is. So, for myself, I’m waiting to see if Apple can break to about $218, and at that point in time, it becomes a very interesting long to me.

I have no interest in shorting this market, but I’m the first person to admit that I definitely see where we could drop to the $195 level pretty quickly on some type of bad news, either for Apple or the market, where it would test significant support.

AMZN Technical Analysis

Amazon looks like it’s going to be slightly positive at the open. But again, this isn’t a big move. This is a market that has been grinding its way to the upside. And we have to ask ourselves, are we getting a little overdone? It’s possible that we may need to pull back in part of what could be thought of as a potential channel. The 50 day EMA is down at the $212 region and is rising, so we could drop all the way down there, I suppose. But really at this point in time, I think it still remains a bullish market. Pullbacks are welcomed because they will offer value.

GOOGL Technical Analysis

And finally, Alphabet or Google is pressing a pretty serious ledge from previous trading in the form of $185. And it is struggling to get above there. You can see that there was a lot of supply at that area. So, it’s not a huge surprise to see a little bit of hesitation. It looks like we are going to open a little bit softer, but I do see a lot of pressure underneath to break out to the upside eventually. I do think this is a market that will eventually go to its all-time highs, but I’m looking for a short term pullback in order to take advantage of any value that’s offered here in Google. Google, of course, is a very noisy stock at times, but for me, it certainly looks as if it has been recovering quite nicely. So, pullbacks should offer buying opportunities.

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