NFLX, WBD and AMZN Forecast – US Major Stocks Look to Higher Levels

NFLX Technical Analysis

Netflix looks as if it is going to open higher on Monday after selling off on Friday. Its latest earnings call was on Thursday, and it was strong. Forward guidance may not have been as rosy as people had hoped, but nonetheless, this is a market that gave back some of its gains, and really, it does make a certain amount of sense considering that it had absolutely launched over the last couple of months. The $1,180 level underneath is a significant floor in the market. But we also have the 50 day EMA, where we had stopped on Friday. Opening higher during the session, albeit ever so slightly on Monday, is a good sign. And it suggests that the overall uptrend is going to continue.

WBD Technical Analysis

Warner Brothers’ Discovery looks as if it’s going to continue to climb as we are threatening an area of interest right around the $13 level. If it can break above there, then $14.50 cents followed by $16.50 cents could be targeted. Ultimately, this is a market that looks a little stretched though. So, if you are interested in buying Warner Brothers, then you’re probably looking for a short-term pullback at this point.

AMZN Technical Analysis

Amazon looks as if it is going to open a little higher during the opening here on Monday to go looking at the $230 level. If we can break above there, then the market could go looking at the $245 level. Short-term pullbacks are opportunities to get involved all the way down to at least the $218 level, an area that I do anticipate seeing quite a bit of support at. This is a market that I believe, given enough time, goes higher, but ultimately this is a situation where you’re looking for pullbacks as an opportunity.

For a look at all of today’s economic events, check out our economic calendar.