Amazon (AMZN) Technical Analysis
Amazon looks like it’s going to be a bit positive at the open on Wednesday as we continue to threaten the upside. The market has been forming a little bit of a potential island bottom with significant selling followed by support at the $195 level, and now it looks like we’re trying to break above the $213 level to fill a couple of gaps. I do think we continue to see a lot of volatility, but overall, I like the idea of buying short-term pullbacks.
Apple (AAPL) Technical Analysis
The market for Apple is a little soft in pre-market trading, but it is a market that’s been recovering for several days and it would not surprise me at all to see more of a buy on the dip mentality over here as well. We are clear of the earnings call for this market, so I think ultimately this is going to go with the overall technology sector with an obvious resistance barrier near the $280 level.
I think it eventually attracts buyers to get above there. If and when we can, then the market is likely to go looking at the $288 level again, and area that has been important previously.
Google (GOOG) Technical Analysis
Google looks like it’s going to be positive for the session. It’s up about $2 or so in pre-market trading and now looks as if it’s threatening the 50-day EMA. If Google can break above the $318.50 level, then I think it opens up a move towards $340. There has been significant support to be found near the $300 level, as shown just last week. I think that continues to be at least your short-term floor in Google.