AMZN, AAPL and GOOG Forecast – Major Stocks Look Upwards in Premarket

AMZN Technical Analysis

The market for Amazon looks like we are going to continue to rally a bit here, as the market looks very positive in pre-market trading. If we can get above the $238 level, that could constitute more FOMO trading and a bit of a breakout to the upside. Short-term pullbacks I think continue to be buying opportunities as Amazon has been strong for some time and we have filled the gap, pulled back and now we’re threatening to break above that previous gap.

AAPL Technical Analysis

Apple looks like it’s going to be basically flat in the open, but it looks very much like a buy on the pullback market, with the $236 level offering a bit of technical support due to the fact that it was previous resistance. Obviously, this is a market that’s been bullish and it is favored by a lot of traders. Quite frankly, in most passive investing vehicles, there is at least some exposure to Apple. So that does make it attractive in and of itself.

GOOG Technical Analysis

Google looks as if it is going to continue to grind higher. Short-term pullbacks, I think, continue to be buying opportunities here. We have a massive gap higher after a favorable court ruling. So really at this point in time, I think you’re looking for value, meaning you’re looking for Google to pull back so you can take advantage of it. Or if you are a longer-term investor, maybe you’re just buying here.

Regardless, this is a very bullish market that has some volume behind it and the overall attitude of the market is fairly positive during the session. So, in that environment, it makes no sense to go short. You’re just looking to either find a better price or again, if you’re an investor and not a short term trader, you probably don’t care.

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