MSFT Technical Analysis
Microsoft looks as if it is going to gap to the upside during the open here on Monday, as pre-market trading has been very strong. Ultimately, if we can break above the $540 level, then I think it opens up a move towards the impulsive high at the $555 area. Short-term pullbacks open up the possibility of buying opportunities, with the 50-day EMA sitting right there at $512, which, of course, is also rising. So, all things being equal, I think this is a market that continues to be more or less a buy on the dips situation. And I do believe that the $500 level will continue to be very important for support underneath. And as a result, I think there are plenty of people out there willing to get long.
GOOG Technical Analysis
Google looks like it’s going to gap as well. And that makes a certain amount of sense as there’s that risk on a type of appetite out there with the US and China supposedly coming closer to an agreement. A short-term pullback at this point would make a certain amount of sense. But I think ultimately you have to look at this as a market that is probably going to be “buy on the dip” as well as impulsive.
I have no interest whatsoever in shorting. And now it looks like the $240 level will end up being a floor in the market, which the 50-day EMA racing towards that level as well. So, it just solidifies everything that I see as far as support.
AAPL Technical Analysis
Apple looks like it’s going to gap to the upside, which makes quite a bit of sense considering that the situation with the United States and China will have a direct influence on Apple. We do have an earnings call, I believe, on Thursday this week, so that will cause a certain amount of noise, but this again looks like a very bullish market. And if we did get some type of impulsive sell off, I’m more likely than not would be a buyer on any bounce. The uptrend line is very much in case the support, and this is a market that I think should continue to go higher, but do expect some volatility on that Thursday earnings call, which is after the bell closes.
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