AMZN, META and AAPL Forecast – Major US Stocks Look to Rally

AMZN Technical Analysis

Amazon looks like it’s going to rally a bit during pre-market trading, and it looks like we are going to try to take out the 50-day EMA. If we can break above the 50-day EMA, then it opens up the possibility of a move to the $228 level. Short-term pullbacks, I think at this point in time, continue to see a lot of interest, and the 200-day EMA sitting right around the $215 level, essentially the bottom of the range, is a good sign that we will have a certain amount of support. All things being equal, this is a buy-on-the-dip type of market.

META Technical Analysis

Meta looks like it’s going to gap higher to kick off the trading session on Friday. It looks at this point as if it is going to try to break above the highs of the last couple of days, which of course is a good sign. After all, this is a market that recently found quite a bit of support at the $700 level, and it looks like it’s going to try to get back to its $800 level eventually. More of a consolidation move, but a positive uptrend will continue to make Meta attractive.

AAPL Technical Analysis

Apple looks like it’s going to gap higher just slightly in pre-market trading on Friday, but keep in mind that next week, on the Thursday session at the close in New York, we have an earnings call coming from Apple, and that obviously will have a major influence on what happens next. This is a market that recently broke higher, broke out to the upside, pulled back a bit, and is now starting to show signs of support again. That’s exactly what you want to see on a breakout and potential continuation run.

I like the idea of buying dips in Apple, although the earnings call could cause a little bit of noise, as it typically does. Overall, we’re still in a nice uptrend. Looks pretty healthy.

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