AAPL, GOOG and ORCL Forecast – Tech Stocks Drifting a Bit in Early Trading

AAPL Technical Analysis

Apple looks like it’s going to rally a bit in the early part of the session, as pre-market trading has been positive. At this point, we’ll see whether or not we can break above the $250 level. I think at this point in time, that is probably the major barrier that traders will be looking to overcome. If we can break above that $250 level, then it’s likely that we will see even further upward momentum and FOMO chasing this market.

GOOG Technical Analysis

Google looks like it’s going to be a little bit soft in the open, but really, pre-market trading tells us that we could get a little bit of a pullback in order to find value. The $240 level is an important level, and then after that, we have a major gap that starts at about $225, dropping down to the $210 level. Ultimately, this is a market that I think continues to see a lot of volatility, but really, at this point, you’ve got a scenario where we’ve gotten overstretched enough that I think you need to pay attention to the fact that you might get an opportunity to pick up stocks or at least some shares of Google on the cheap here.

ORCL Technical Analysis

Oracle looks like it’s going to open just a touch lower, but really at this point in time, it’s a very positive looking market. We have a massive gap that starts at $290 and extends all the way down to $240. So I think you’ve got a scenario where dips continue to get bought into. We may grind a bit lower before rallying. I don’t know if I would be quick to trade Oracle at the moment, but I’m definitely going to watch this chart. It certainly sets up a nice potential buying opportunity. And the market dropping $40 from here is very possible. And if it does, there’s probably a lot of buyers willing to get involved. We’ll just have to wait and see.

Nonetheless, this is a market that I think continues to be of interest and therefore you’ll have to watch it. But the alternative scenarios that we just gap and go, meaning that we gap higher, we pull back slightly, and then take off. That would be signified as a reality if we can break above the $345 area. If we do that, then Oracle is just going to fly. But right now, I’m more apt to let it come back to me a bit before I start buying it.

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