AMZN, AAPL and GOOG Forecast – Major US Stocks Trying to Bounce

AMZN Technical Analysis

Amazon looks as if it is going to rally a bit right off the bat on Tuesday, as traders search for value in a stock that has been a stalwart for years. After a sharp decline over the last couple of weeks, a relief rally seems overdue. Sometimes, these relief rallies in major bear markets can be intense and rise significantly. While it’s uncertain if that will happen here, one could make an argument for the possibility.

With that in mind, the 200-day EMA, located near the $202 level, will likely be closely watched. A bounce could be on the horizon, but there is still some uncertainty. A strong bullish candlestick with volume would be needed to confirm any sustained upside momentum.

AAPL Technical Analysis

Apple is currently bouncing from the 200-day EMA but appears set to open slightly lower during the trading session. The uptrend line remains somewhat intact, making it a potential upside play if momentum picks up. However, if Apple breaks below Monday’s trading session lows, a drop to the $219 level could happen quickly. This level is acting as a floor for now, but if it gets violated, things could turn bearish rapidly.

GOOG Technical Analysis

Google looks like it will open slightly higher than its previous close, with the $165 level acting as a support floor. The 200-day EMA near the $176 level could serve as a reasonable target for a bounce, but it’s unlikely that price action will cut through it easily. Instead, we may see gradual upward pressure as the stock attempts to form a base. A daily close above the 200-day EMA would be a strong bullish signal for Google, likely confirming the continuation of its uptrend.