AMZN, MSFT and AAPL Forecasts – Major Tech Stocks Sloppy in Premarket Trading

AMZN Technical Analysis

Amazon is a little bit soft in pre-market trading, and it looks much like a stock that is probably going to continue to consolidate right around the 200-day EMA. This isn’t to say that I’m bearish on the market; it’s just that it’s worth noting we gave back a lot during the Monday session.

So, I think we’ve got some work to do here before we can turn things around and really get moving. We’ll just have to wait and see how that plays out. I think a little bit of a dip could be a buying opportunity for longer-term-minded investors.

MSFT Technical Analysis

The Microsoft market looks like it’s basically going to open up about where it closed. I think we’re still in the middle of trying to sort out whether or not this is a double bottom that we’re forming. I think if we can break above the $385 level, it’s a good sign. At that point in time, I’d become a lot more interested in Microsoft because I think it has quite a bit of room to run.

If we turn around and fall from here, I’d be looking to see whether or not we can hold the $350 level as support. That could be a nice little buying opportunity as well.

AAPL Technical Analysis

Apple looks a little bit soft. I still think the $275 level offers support as well, though. We have the 50-day EMA above at the $290 level roughly, which is in the middle of a gap. I think that’s our ceiling.

I would expect a little bit of sideways action here, probably over the next several days, as we determine the next move for Apple, which, of course, is owned far and wide by institutions, so I do tend to favor the upside over the longer term.

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