NFLX, AMZN and AAPL Forecasts – Major Tech Stocks a Touch Soft

NFLX Technical Analysis

Netflix looks a little bit soft at the moment as it is struggling to really get things going, but I think there is a huge gap underneath that eventually gets filled. I like the idea of buying the dip here and am more than willing to do so.

It is interesting that the 200-day itself has offered significant resistance, and I think it is just a technical pullback that may fill this gap. We will just have to wait and see, but I think either way, Netflix could end up being a nice value trade for longer-term traders. Short-term traders probably not so much.

AMZN Technical Analysis

Amazon looks a little soft in the early hours on Thursday as well. There is plenty of support near the $210 level so keep an eye on that. If we rally from here, the 50-day EMA and the 200-day EMA both offer plenty of resistance.

I do think eventually Amazon finds its way higher. Quite frankly, it is one of the most widely held stocks in passive income and mutual funds, the whole ETFs, the whole market pretty much owns Amazon. I think it is probably only a matter of time before if the overall market rallies a bit, so does Amazon.

AAPL Technical Analysis

Apple looks like a market that is just kind of hanging about. It is between the 50-day EMA above and the 200-day EMA below and this dictates perhaps a little bit of squeezing. Overall, I think this is yet another function of the market itself overall just being a little noisy.

If that continues to be the case, then I think it is probably only a matter of time before we do bounce and go looking to the $280 level, but patience is probably going to be paramount here. I would watch the 200-day EMA currently at the $251.17 level as a bit of a floor.