AMZN, AAPL and GOOG Forecast – Generals Look Likely to Bounce

AMZN Technical Analysis

Amazon looks like it’s going to jump right off the bat here on Wednesday, as the $195 level has offered support, and it is worth noting that there was a gap there that’s been filled. We could go looking to fill the most recent gap, going towards the 200-day EMA at $222 or so.

This is a market that’s been oversold, and it’s due for a bounce. It’s probably worth noting that yesterday, on Tuesday, we saw the stock markets in the United States turn around in general. So, of course, Amazon being in almost everybody’s account in one form or another rises.

AAPL Technical Analysis

Apple looks like it’s going to rise as well. It had a really good day on Tuesday. I suspect we are probably still range bound though. We’re probably looking at a $280 ceiling. The 200-day EMA underneath offers support, and it appears that the $255 level is trying to offer support as well.

This is a market that I think wins over time, but you obviously will have a lot of choppiness and noisy behavior. Again, this is one of the major generals out there. Apple is in almost everybody’s retirement account.

GOOG Technical Analysis

Google looks like it could turn things around quite nicely. It had bounced from the $300 level that I pointed out yesterday and now it looks like it’s trying to rise. I think this is a good look. I do think that maybe this little correction here is maybe what the stock market and Google in particular needed.

It had been a runaway stock and now traders are out there looking for a little bit of value. As long as we can stay above the $290 level, I think the market is still one that you have to be looking at pullbacks as buying opportunities.