AAPL Technical Analysis
Apple has an after the bell earnings call as well, but unlike the stock in Amazon, Apple looks like it is going to struggle a bit at the open. It’s not anything major. It’s just that we’re just slightly below where we had closed. With that being said, Apple is hanging around the 50-day EMA, and that, of course, is a technical indicator that a lot of people pay attention to. So, I think the downside is probably somewhat limited between now and five o’clock New York time when we get the call. But I do recognize that we at least ran into a little bit of a barrier in the form of the 200 day EMA. So, this pullback might be more of a technical nature than anything else.
GOOGL Technical Analysis
Google looks as if it is going to drop just a touch at the open. It had its earnings call after the close on the 23rd about a week ago, and it was better than anticipated. But at this point in time, I think we are entering an area that had seen a lot of noise previously. So, it does make a certain amount of sense that maybe there’s a little bit of market memory right here just getting ready to perhaps get into the mix.
Short term pullbacks are very likely, but I also think that in this environment, they offer buying opportunities that might be getting ready to set up here, especially if we can get closer to the $190 level. I don’t have any interest in shorting Google. I just look at it as a market that might be a little stretched.
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