AMZN, AAPL and GOOG Forecast – Major US Stocks Quiet in Premarket

AMZN Technical Analysis

The pre-market trading for Amazon has been a little lackluster. I don’t necessarily think that we have a situation where we have to worry about the uptrend falling apart, but I think maybe we’ve got a little bit of exhaustion in this area. I’m looking at this very much through the lens of consolidation with more of an upward tilt longer term.

AAPL Technical Analysis

Apple looks very much the same in the sense that it just doesn’t have anywhere to be pre-market. Every time we’ve rallied over the last week or so, we’ve given those gains back. However, we haven’t pulled back very significantly, and basically, we’ve been flat for the last six trading sessions. There is an uptrend line that comes into the picture if we do fall from here, but right now, I think you’ve got a situation where value hunters will be interested in Apple on dips if we get one. Otherwise, we’re just kind of hanging out in this area.

GOOG Technical Analysis

Google looks slightly—and I would emphasize the word slightly—negative during the early hours here on Tuesday, but we are at the highs. So really, at this point, with any type of pullback that you get, you’d have to look at as a potential buying opportunity, with $270 being massive support below. Google is a pretty strong performer overall, and I do think eventually it breaks out to the upside. But in the meantime, we may have to grind our gears, going sideways and building up enough momentum to bring in more trading volume. At this point, the market is neutral but with a more positive longer-term outlook.

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