AAPL Technical Analysis
Apple looks as if it is trying to break to the upside during pre-market trading, but we do have a lot of noise right around the $215 level. If we can clear that, then I think Apple will then do what it can to test and break above the 200 day EMA at the $220 level. Anything above that probably kicks off a pretty significant opportunity for a much bigger move, with the Chinese trade spat with the Americans slowing down a bit, that does specifically help Apple.
AMZN Technical Analysis
Amazon also will be a beneficiary of greater US China relations and now finds itself trying to bounce after forming a nice hammer during the Thursday session. Amazon had broken above a resistance barrier. Now it is trying to continue that move to the upside.
The $215 level is an area that I think a lot of people will be watching because if we can break above there, it could very well open up a move to go back to the $240 region where we had peaked previously. The 50-day EMA is starting to turn higher, and it looks like it is trying to break above the 200-day EMA to kick off the so-called Golden Cross.
NFLX Technical Analysis
Netflix looks like it’s going to rally a bit in pre-market trading and therefore I think it just continues more of the same. We’ve seen a very strong uptrend for a while now and that should continue. With that being the case, I like the idea of buying short-term dips in Netflix as it’s obvious that we have much further to go at this rate.
For a look at all of today’s economic events, check out our economic calendar.
