AMZN, AAPL and GOOGL Forecast – Major US Stocks Continue to Look Calm

AMZN Technical Analysis

Amazon looks like it’s going to open up a little bit lower than it closed during the previous session on Tuesday as we continue to see a bit of consolidation between the $190 level on the bottom and the $200 level on the top. It is worth noting that the $200 level also features the 200-day EM, and if we could break above there, it could bring in more momentum trading.

The next earnings report isn’t until the 24th of April. So, we’ve got some time before the company itself reports. But we are hanging around just below the 50 % Fibonacci retracement level from that huge move up. So, I’ll be watching this one for a shot higher.

AAPL Technical Analysis

Apple looks like it’s at least trying to build some type of case for a base here in the $214 region. This is a market that has been absolutely hammered over the last week or so. It’ll be interesting to see if we can get some type of bounce because a lot of people own this stock. This is in most of your retirement funds for that matter.

So, the question then is, could we really start to pick up momentum? Well, the candlestick from Monday does suggest that there are buyers stepping in, but I’d point out that the volume really hasn’t picked up that much. So, this still is a little bit of a wait and see type of market.

GOOGL (ALPHABET) Technical Analysis

Google looks like it’s going to open up pretty much where it closed as we are continuing to see a bit of support right around the $164 level. I do think at this point in time you have to wonder whether or not we can turn around and fill the gap. On a break higher, I would suspect that’s probably what’s going to happen, we will run to the $170 level. After that, you have the 200-day EMA coming into the picture as potential resistance. Anything above there could get people excited and could send Google looking to reach the $187.50 level. A break below the $160 level opens up a move down to $150.