AMZN, NFLX and CMCSA Forecast – Streamers a Bit Mixed Early on Friday

Amazon Technical Analysis

The first stock I’m looking at is Amazon, and yes, it is a streaming service with Amazon Prime. So, the market now looks as if it is trying to jump a little bit early on Friday in what would be a recovery from the short-term pullback. This is a market that is continuing to see general upward trajectory. We do have an earnings call on the 29th, so that’s not that far away.

Keep that in mind, but Amazon is just a winner and has been for years. It’s part of most people’s passive investing strategy, and therefore, it’s got a little bit of a permanent bid in it. It looks like on Friday, we’re going to try to work our way back towards that $248 level that caused a little bit of a pullback.

Netflix Technical Analysis

Netflix is trying to recover a little bit in premarket trading. I’m very interested in this stock because of course, this is another perennial winner as well. And we are approaching a pretty significant support in the form of $82.50. The question is, do we get all the way down there? I don’t know, but what I am looking to do is buy the right-hand side of the V. I want to see the market jump a bit and then take advantage of it.

Quite frankly, we could jump a couple of dollars to the upside before I even pull the trigger. It could go as high as $115 from that move, so you don’t have to be the first one in the trade; you just want to be part of it. If we fall from here, then I will reevaluate things closer to the $82.50 level.

Comcast Technical Analysis

Comcast looks pretty much flat in early trading, but what I would point out here is that we are stuck between the two moving averages on Friday. The ex-dividend date was this week, so we won’t expect any action due to that. The earnings report is on the 29th as well. Ultimately, I think this is a market that’s just kind of hanging out and waiting to see what that earnings report will bring.

You could make an argument that we are in the midst of trying to recover; it’s a bit of a bullish flag shape, I suppose, and we did have a nice bounce a couple of weeks back. I certainly don’t have any interest in shorting this market. Buying on the dip might be possible; I wouldn’t make this a huge part of your portfolio, but it might have a place in it. A breakdown below the 50-day EMA has this market looking at the $26 level to potentially reset to the upside. The $30 level will be important as it is a large, round, psychologically significant figure, but it’s also where we see the 200-day EMA.

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