Tech Stocks Forecasts – AAPL, MSFT, and AMZN Face Pre-Market Pullbacks

AAPL Technical Analysis

Apple looks like it’s going to gap a little bit lower to kick off the trading session on Thursday as the market may be a little overstretched. The $317 level underneath had previously been resistance, so traders may be looking at that as potential market memory. It’ll be interesting to see, but as things stand right now, it looks a little soft, probably overbought, and of course, we get an earnings call on the 30th. Between now and then, there might be some hesitation to get too aggressive by some traders out there.

MSFT Technical Analysis

Microsoft looks like it’s going to open up just a touch lower based on pre-market trading. It is struggling with the 50-day EMA and higher rates at the same time. Microsoft has had a little bit of a rough ride recently. A lot of this can be laid at the feet of Copilot failing, as it just isn’t getting the kind of traction some other AI models are. Whether or not that actually remains, who knows, but there is value in Microsoft. Plenty of traders think so, as there are buyers of dips.

At this point, consolidation looks like what we are going through at the moment, right around that crucial 50-day EMA, which, of course, is a widely followed technical indicator.

AMZN Technical Analysis

Amazon looks like it is going to gap lower to kick off the session. The 200-day EMA is sitting at $235.77 and could offer a bit of support. We’ll just have to wait and see, but there are some concerns out there about inflation and the consumer in general. If that’s the case, then some people will leave retail altogether, and of course, retail is what Amazon is known for. It is one of the biggest companies used by Americans. If there are concerns about the American consumer, it translates into this market quite often. We have an earnings call for Amazon on the 30th as well, so between now and then, there might be a little bit of hesitation. We’ll just have to wait and see how that plays out.

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