AMZN, META and NFLX Forecast – US Stocks Look Strong in Premarket

AMZN Technical Analysis

Amazon looks like it’s going to open the session on Wednesday higher than we closed after an impressive Friday session to begin with. At this point, it looks like Amazon is ready to continue climbing, perhaps trying to get back to the $245 region, which was its swing high. Short-term pullbacks are more likely than not going to be buying opportunities, especially near the $215 region. Clearly, this is a very bullish turn of events, and this is a market that you cannot get short of.

META Technical Analysis

Meta looks like it’s going to break out the fresh new highs at the open on Monday as we continue to see plenty of strength overall. Short-term pullbacks, I do believe, will end up being buying opportunities as this is a market that simply is on fire at the moment. Ultimately, we will eventually get a pullback, and I think there’s going to end up being significant support near the $700 level. This is a market that has just shot straight up in the air since the end of April like the indices have and I do think this is a scenario where it’s probably only a matter of time before traders will be looking at any dip in this market as a potential buying opportunity.

NFLX Technical Analysis

And finally, Netflix looks like it’s going to open higher in pre-market trading as well, although maybe not as aggressively as the other two stocks in this analysis, but Netflix also has been breaking out to a fresh new high almost every day for the last two or three months. Short-term pullbacks will end up being buying opportunities, with the $1,250 level perhaps being a support level, and then after that, you would have $1,170 followed by $1,100.

This is a market that you clearly cannot get short of anytime soon and therefore you’re just looking for buying opportunities on drops. Volume is decent, it’s pretty normal for this stock so exhaustion isn’t quite a thing yet.

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