AAPL, AMZN and GOOGL Forecast – Major US Stocks Stabile in Premarket

AAPL Technical Analysis

The stock for Apple seems to be quietly positive in the pre-market trading of Tuesday in the sense that it at least isn’t falling. That’s a good sign considering that it had shot straight up in the air over the last couple of trading sessions, but we still have a long way to go before we truly break out to the upside. We still have the 200 day EMA currently sitting right around the $224 level offering some resistance. So, we’ll have to wait and see whether or not that plays out as a barrier. Breaking above that opens up the possibility of Apple really taking off, but we’ll have to wait and see. At this point, Apple looks very much like the NASDAQ 100, where we formed a bearish flag, but it looks like we’re in the midst of that flag being negated.

AMZN Technical Analysis

Amazon looks a little bit stronger in the early morning hours, but just barely. This is a market that broke above the 200-day EMA during the previous trading session and now it looks like it is going to try to continue racing towards the 50 day EMA right above the $210 level. Short-term pullbacks at this point in time should see the $200 level as a potential support level. We’ll just have to wait and see, but Amazon does look like it’s turning things around.

GOOGL Technical Analysis

Alphabet looks very much like a stock trying to rally back into the gap that we formed a couple of weeks ago. We are likely to open the market a little higher than the close. So, pre-market trading is giving us a little bit of a boost, but at the end of the day, it’s worth noting that this is a market that is clearly oversold.

So, I think right along with the rest of the NASDAQ, we’ll probably see Alphabet claw back some of those losses. Whether or not this is a trend change, we have to wait and see. But right now, it certainly looks like we are at least trying to find some life in this market.