MSFT, AMZN and AAPL Forecasts – Majors in the US Mixed in Premarket

Microsoft Technical Analysis

The pre-market for Microsoft has been fairly positive, as it looks like we are, in fact, going to bounce, which makes a certain amount of sense. Quite frankly, Microsoft has been in a straight line down for several weeks. Sooner or later, one would assume that it bounces. There are probably value hunters out there looking to get involved, perhaps longer-term investors looking at this as a place to pick up extra shares.

You can see that we are not too awfully far from the $350 level, an area that’s been important multiple times in the past. A little bit of a bounce makes sense. Whether or not it has any follow-through is a completely different question at this point.

Amazon Technical Analysis

Amazon looks like it is going to gap lower to kick off the session, and quite frankly, we could see dead air between here and somewhere around $220, maybe even $215. And at this point, if it doesn’t turn around during the session today, I think Amazon goes down to that area. There just is no support to be found on the chart. Longer term, I like Amazon, obviously, it’s a very strong company, but right now, it certainly looks like it’s pulling back.

Apple Technical Analysis

Apple looks like it’s going to gap lower as well. It had an exhaustion candle form during the previous session on Monday. Looks like we’ll probably try to get back down to the 50-day EMA, which is right around the $290 level, an area that has been both support and resistance in the past.

It looks like the $300 level is just a little bit much to overcome in the short term. We’ll have to wait and see how this plays out. It does look a little bit like a bearish flag, but it’s not until we get below the 50-day EMA that that would be confirmed. It could just be a simple consolidation

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