AMZN Technical Analysis
Amazon appears relatively flat in pre-market trading, as we’re expected to open where we left off on Thursday, with Friday likely to be somewhat sideways, given our position just above the crucial 200-day EMA, an indicator that many will be closely watching. The 200-day EMA is often regarded as a trend-defining indicator, but what’s also interesting is that we are currently hovering around a consolidation area, an area that has been previously supported. So, if we can break above the highs of the Thursday session, I think we could go looking to the 50-day EMA. Anything above there opens up an even bigger move to the $237 level.
AAPL Technical Analysis
Apple looks like it’s going to open pretty much at the same level as it closed. So, I think again, we’re probably going to get somewhat quiet and a sideways move here. I do think that it is probably only a matter of time before we see the market trying to recover. But if we do drift lower from here, pay attention to the $240 level, as it’s where the 50-day EMA is. And it’s been previously resistant, so it should have a little bit of market memory attached to it in that area, an area that perhaps we’d be looking to buy on some type of bounce.
I don’t have any interest in shorting Apple, although I do recognize it took a bit of a beating last week with the tariff talk, hitting the wires from the President of the United States.
GOOG Technical Analysis
Google looks like it’s going to be a little softer than it was when it closed during the previous session. It is worth noting that the Thursday session had seen an initial breakout, only to form a bit of a shooting star. That shooting star, of course, is a negative candlestick, and it could mean that we’re going to head right back into the previous consolidation area, between $240 at the bottom and $255 at the top. So, I think you may see a little bit of softness here, but it’s not really anything other than a buying opportunity at the first signs of buyers coming back in, as Google has been in a nice uptrend for some time.
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