AAPL, AMZN and NFLX Forecast – Major Stocks Continues to Chop on Friday

AAPL Technical Analysis

Apple initially did try to rally a bit during the trading session on Friday, but it looks like we’re giving back some of those gains and with that being the case, I think you’ve got a situation where traders are going to continue to pay close attention to the 50 day EMA and then the $210 level. Short term pullbacks, probably buying opportunities, but I think we’re more or less consolidating in this stock, as we are trying to sort out the US/China trade war.

AMZN Technical Analysis

Amazon rallied a bit after gapping higher. It does look like it’s stuck here at the $215 level, which is an area that I think will continue to be a pretty significant resistance, with the $200 level underneath being massive support, especially with the 50 day EMA hanging around that area and just recently kicking off the so-called Golden Cross.

NFLX Technical Analysis

Looking over at Netflix, you can see that we did gap a little bit higher, only to turn around and show a little bit of hesitation here. Ultimately, I think you have a situation where traders are looking at this through the prism of a market that might be a little stretched, but clearly you do not want to short this market. You want to find a pullback that you can get involved with in order to find some value in what’s been a monster run to the upside. So, I remain bullish. I believe that the $1,170 level continues to be a major support level.

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