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AAPL, AMZN and GOOG Forecast - US Tech Leaders Mixed in Premarket Trading

By Christopher Lewis

AAPL, AMZN and GOOG Forecast - US Tech Leaders Mixed in Premarket Trading

The three major US tech stocks in this analysis are moving in different directions, but all look as if they are bullish over the longer-term.

Apple looks like it's going to open a little bit lower during the session here on Thursday, but quite frankly, we had seen a massive gap higher on Wednesday. So that makes a little bit of sense as profit taking will probably come into the picture. And of course, traders are sort of focused on the jobs report on Friday, which could have a major influence on risk appetite. There's nothing on the chart that looks bad at all. And it looks like we just exited a bullish flag, which in theory could send this market to about $265 over the longer term.

Amazon looks like it's going to jump at the open, perhaps trying to break the recent high. If we can reach the $235 level, then we face the latest major swing high. And breaking that, of course, would be a major victory for the bulls, as that was the drop from the earnings call where we gapped lower. We have filled that gap twice now. So, I do think it's probably only a matter of time before we jump again and Amazon certainly looks like it's ready to go much higher.

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