AMZN, AAPL and NFLX Forecasts – Streamers Trying to Jump

AMZN Technical Analysis

With the open of the session it looks as if we are trying to jump in Amazon as a potential safety play and a potential double bottom has formed. With that being the case, I think you need to watch this market very closely; it will possibly try to test the 50-day EMA, which I believe is an indicator that a lot of people will be watching for resistance at the $214.50 level. I have no interest in shorting this market, at least not right now. I think the $200 level has proven itself to be somewhat of a line in the sand that people will be defending.

AAPL Technical Analysis

Apple looks like it’s trying to break higher as well, but at the same time it is squeezing between the 200-day EMA and the 50-day EMA indicators and as such, I think it’s going to remain very volatile. You need to keep that in mind. Ultimately, this is a market that most people own one way or another in their retirement accounts, so that’s also something to keep in mind. I do think, given enough time, we do break above the 50-day EMA, but we need some calm in the geopolitical landscape first.

NFLX Technical Analysis

Netflix looks like it is in the process of trying to sort things out right now as we continue to bounce around between the 50-day EMA and the 200-day EMA indicators. Ultimately, this is a market that I think, given enough time, probably does take off to the upside, and I am bullish on Netflix.

I just think that we have a little bit of damage repair to do after that failed acquisition of its competitors, so a little bit of a savings of cash probably sends this market higher. I do think breaking the 200-day EMA could kick off a much longer uptrend. Keep in mind, unfortunately, we are still at the mercy of some geopolitical headwinds, and as long as that’s the case, it may act a little bit strange.