AMZN, AAPL and GOOG Forecasts – Major US Stocks Show Mixed Momentum

AMZN Technical Analysis

Amazon looks like it is going to be a little soft in early trading on Monday as we continue to see a lot of noisy behavior. Ultimately, this is a market that I think, given enough time, probably does try to fill the gap above.

Right now, it just does not have momentum. The $195 level will continue to be a bit of a floor from everything I see, so pay close attention to that. I think buying on the dips probably still works here eventually but recognize that the market itself is in a bit of a malaise type of situation right now. Therefore, I am not expecting much out of many stocks. This isn’t even necessarily an Amazon story.

AAPL Technical Analysis

Apple is going to be a little bit sluggish at the open. It looks like we are hanging around the 50-day EMA, sitting right around the $265 level. The market breaking above the 50-day EMA would, of course, be a good sign, and it could send Apple back towards the $280 level.

Right now, I think we are just going to grind sideways. I think this is a choppier, range-bound short-term trader type of action. If you are that, then you love this type of market. If we break down from here, the 50-day EMA sits just below the $250 level. I think between that and the psychology of $250, it is probably a good place to find support.

GOOG Technical Analysis

Google is positive in pre-market trading. This is one of the outliers at the moment. Google, of course, being a big, huge AI play, it looks like maybe some of the AI stocks are starting to get a little bit of love again.

Pay attention to the fact that we just formed a big double bottom at the $300 level. Could we go to $350 above? I think that is the question right now, and more likely than not, we do eventually get there.