AMZN Technical Analysis
Amazon looks like it is going to open up a little bit higher, based on pre-market trading as we continue to bounce around between the 200 day and the 50 day EMA indicators. All things being equal, this has been a nice little pullback that we’ve had, but with a little bit of Fibonacci study here applied to the chart, you can see that the 38.2% Fibonacci retracement level is in fact seemingly offering support backed up by the 200 day EMA.
AAPL Technical Analysis
Apple looks like it is going to pull back just a little bit in pre-market trading after having a very explosive move on Friday. All things being equal, this is a market that I think given enough time will have to sort itself out, but it looks like it is doing everything it can to rally again as the 50-day EMA has come into the picture, as well as $230 and an uptrend line. With this being said, I think short-term pullbacks will probably continue to be attractive for traders, and therefore they will do what they can to pick up cheap shares when they occur.
GOOG Technical Analysis
Google is up a little bit in pre-market trading after what has been a very ugly sell-off over the last couple of weeks. We have tested the 61.8% Fibonacci retracement level, so perhaps some technical traders are starting to get interested. However, the 200 day EMA is above and until we clear that, I would be a little bit leery about jumping all in, but it certainly looks like we’re going to have a go at it based on pre-market trading. And therefore, I think this might be a market worth watching. If Google rallies, it should help the Nasdaq 100 and other indices right along with it.
