AMZN, AAPL and NFLX Forecast – Major US Stocks Waiting for FOMC

AMZN Technical Analysis

The market for Amazon looks like it’s going to open higher during the trading session on Wednesday, which does make quite a bit of sense considering that the United States and the Chinese are now going to be meeting in Switzerland, and of course, Amazon has made its entire empire of gains by importing Chinese goods to the United States. That’s essentially what Amazon does. So, with that being said, it does make a certain amount of sense that Amazon will try to bounce.

That being said, there is still a lot of resistance above and this might just be a knee-jerk reaction. The 200-day EMA sits right around the $193 level and is dropping, while the $200 level above offers a bit of trouble as well. The FOMC meeting, of course, will have a major influence on risk appetite, but it does look like we are at least trying to bottom in Amazon.

AAPL Technical Analysis

Apple looks like it’s going to open somewhere around the $200 level as gains are forecasted in pre-market trading. The 50-day EMA sits right around the $212 level. And again, Apple makes all of its goods in China for the most part, although they are starting to move to India and parts of the US, but this definitely helps with the bottom line for Apple.

That being said, Apple has been hurting for a moment anyway, so perhaps the shine is off. It wasn’t that long ago that Apple was something that everybody owned, and everybody just bought every time it fell. Whether or not that continues remains to be seen, but I do see a lot of overhead resistance.

NFLX Technical Analysis

By contrast, Netflix looks like it’s ready to just continue going higher forever. We are approaching the $1,150 level and it does look like Netflix is going to open up higher during the trading session on Wednesday. Again, I don’t think the situation with the United States and China come into play here, but it doesn’t hurt sentiment, and it has people buying more stocks overall.

Remember, most investing these days is done through passive ETF investing and Netflix quite often is a part of these ETFs. So, it does have a slight knock on effect over here, but it’s not the primary reason why Netflix might be rallying.

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