MSFT, AMZN and AAPL Forecast – Major US Stocks A Bit Mixed in Premarket Friday Session

MSFT Technical Analysis

The Microsoft market does look like it’s going to open up a bit to the upside on Friday, but quite frankly, I think what we’re looking at here is a market that is falling right in line with the S &P 500 and the NASDAQ 100 in the sense that it’s trying to find some type of floor. And it’ll be interesting to see whether or not the market starts to turn around.

I don’t want to try to be the first person to buy Microsoft, but we are in an area that historically has mattered a bit near the $375 level. Although really beyond that, all of the technical analysis for Microsoft is pretty negative as we even had the death cross about a week and a half ago. So, I’ll wait and see with this one.

AMZN Technical Analysis

Amazon looks like it’s going to rally a bit at the open on Friday as we continue to dance around just below the 50% Fibonacci retracement level and the 200-day EMA. If we can get a daily close above the 200-day EMA, then at that point in time, I’m probably going to be a buyer of Amazon. On the other hand, if we break down below the $190 level, then we will test the 61.8 % Fibonacci retracement level, which is essentially the line in the sand for any possible recovery in this stock back to an uptrend.

AAPL Technical Analysis

Apple looks miserable, although it is going to open a little higher in the early hours of Friday. But really at this point in time, it’s like a hot knife through butter. It just is falling and falling. Whether or not it can hold this area remains to be seen, but if we were to break down below the $205 level, that opens up a move down to the $195 level pretty quickly.

Quite frankly, there’s nothing on this chart that looks remotely appealing to me. And unlike Microsoft and Amazon, Apple isn’t even trying to consolidate at this point. So, with that being said, I’d be very cautious about trying to buy this stock.