NFLX, AMZN and AAPL Forecast – Majors in the US Looking to the Weekend

Netflix Technical Analysis

Netflix looks like it is going to be a little bit soft in the opening hours of Friday, as we continue to test the $82.50 level, a major area of support. Right now, it looks like a lot of this comes down to the Warner Discovery channel merger and some of the cost involved in that, but quite frankly, I think given enough time, this could be a very interesting place to own Netflix as it is an area that’s been so important previously.

Despite the fact that earnings were better than anticipated, some of the comments about that deal, I think, have the market a little bit nervous. Furthermore, there’s a little bit of a geopolitical headwind in general right now, so I’m watching this one. I don’t know if it’s something I act on right away, but a bounce certainly gets very interesting very quickly.

Amazon Technical Analysis

Amazon looks like it’s going to be a little bit soft during the early hours here as well, but if you look at the last couple of days, there have been a couple of hammers right at a 50-day EMA indicator that a lot of people will watch. The 200-day EMA indicator underneath there offers a bit of a floor.

Amazon Will End Up being a Big Winner

If we can rally from here, the $250 level is very possible, and I do think Amazon will end up being a big winner once it’s all said and done. After all, we have plenty of cloud space situations here in Amazon that could drive earnings. And of course, Americans can’t stop buying things on the Amazon platform. So, tie that all together, this is a long-term play. Most passive investing strategies have at least some exposure to Amazon, so I still like it.

Apple Technical Analysis

Apple looks like it is just testing the 200-day EMA, trying to determine whether or not there are going to be buyers coming in to push it higher. The 38.2% Fibonacci retracement level is sitting just under there as well, so I think any type of momentum from here is probably acted on pretty quickly. It’s a nice technical level that people will be watching.

The $250 level has been a little bit of a short-term barrier to the upside, but if we can clear that, then I think we start to see Apple build from here. We have an earnings call coming on the 29th, which would be next Thursday. So, between now and then, we might be a little sluggish.

I found this quite interesting. I heard an analyst talking about how Apple might actually be rewarded for not dropping as much on artificial intelligence as some of its competitors. In other words, they’re not sinking a ton of money into something that nobody really knows what to do with yet. Just something to think about. Either way, much like Amazon, Apple is part of a larger passive investing strategy by many people out there. So, this is an area I’m watching very closely. I just need to see a little bit of momentum to the upside.

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