NFLX Technical Analysis
Netflix looks like it is going to jump a little bit during the opening here on Tuesday, but we’ll have to wait and see whether or not we can break above the resistance in the $1,266 level. Short-term pullbacks offer buying opportunities in this market from what I can see, as we are consolidating with the $1,150 level as the floor. That being said, we had been bullish previously and have just simply been going sideways. So, we’ll have to see whether or not we can finally build up the necessary momentum to continue the overall uptrend.
AMZN Technical Analysis
The Amazon market looks pretty bullish and I do think at this point in time we are going to try to bounce a bit, perhaps go looking towards the 50-day EMA. The $237 level is the top of this range. We’ll just have to see if this holds up. But right now, it looks like the market for Amazon is respecting not only the bottom of the range, but the 200-day EMA. So I am bullish about this.
I’m not sure if it goes straight up into the air or anything. I just think that a bounce makes a lot of sense here in a company that’s widely held by a lot of institutions to begin with. So ultimately, some sideways action with an upward tilt, I think, is probably what we’re looking at.
AAPL Technical Analysis
Well, Apple looks like it’s going to drop a little bit, but it did make a fresh high during the previous session. So, I think this is a little bit of profit-taking. We’ll have to wait and see whether or not we can get a bit of a boost. Earnings come out in nine days. So that is something that the market might be paying attention to as well. But I do believe this is a buy on the dip opportunity that you should at least hope to take advantage of. That being said, I also recognize that we are a little stretched. So understand that you’re looking for a drop and then a bounce on a short-term chart or a break to a fresh new high. Either one for me is a bullish signal. Either way, I don’t sell this market. I look for it to go much higher.
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