AAPL, AMZN and NFLX Forecast – Major Stocks Quiet in Premarket Thursday Trading

AAPL Technical Analysis

Apple looks a little bit soft in pre-market trading as it looks like we may drop about a dollar or so at the open, but really at this point, the thing that you need to pay the most attention to is that Apple looks like it could be rolling over. The question is, do we continue to be lower towards the $194 level, or are we going to bounce around in this general vicinity and try to capture a little bit of momentum back to the upside? I’m not a huge fan of shorting this market, but you definitely need to keep an eye on it. I wouldn’t be jumping in and buying right away.

AMZN Technical Analysis

Amazon looks like it’s going to be relatively flat at the open. There is a gap that could get filled all the way down to $195. But ultimately, I think this is a market where you’re looking for some type of bounce. And once you get that momentum to the upside, you’re looking to get involved to the upside. I don’t have any interest in shorting this one either. I think we’re just trying to fill that gap in the dead air there in order to find more buyers. I do think eventually we will go looking at the $240 level, basically the massive swing high, but we’ve got a process here to work through. So, a little bit of patience probably goes a long way here.

NFLX Technical Analysis

And Netflix, of course, is a little bit soft in pre-market trading, but it has just basically gone straight up in the air for the last several weeks and I think at this point in time, if we do get some type of pullback somewhere around $1,160, I might start to peel into a bit of a position here, maybe buying little bits and pieces, trying to capture what should be a very supportive region all the way down to the $1,100 level and what is obviously a massive uptrend. I have no interest in shorting this market and quite frankly, we could fall all the way back down to the $1,000 level before I’d even start to question the uptrend.

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