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Technical analysis

Cramer's Corner: Technical Update US Equities: Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla

Kim Cramer Larsson
Technical Analyst, Saxo Bank

Summary:  Cramer’s Corner: Technical Update, Equities

Kim Cramer Larsson hosts the Technical Update, Equities, a bi-weekly 8-10 minute video with live charts.
Kim takes you through the latest technical developments in the most traded Equities

In this Technical Update, US Equities the following equities will be covered: 

  • Alphabet rejected at resistance at around 143.85. Still above Cloud and and above lower rising trendline.
    A close above 143.85 is likely to fuel another rally to 150-152.
    A close below 160.35 will demolish this scenario and could send Alphabet towards 120-115

     

  • Amazon uptrend stalling. However, Daily RSI still in positive sentiment with no divergence indicating Amazon is likely to move higher in coming weeks.
    A close below 142.80 will demolish the bullish picture

  • Apple uptrend ran out of steam after making a new all-time high. Gapping lower there is some support at around 182.91
    However, RSI is below 40 threshold i.e., in negative sentiment indicating Apple is quite likely to move lower in coming weeks.
    For Apple to resume uptrend a close above 195 is needed.

     

  • Meta Platforms rejected at 353.65 resistance. If closing below 342.90 correction could push Meta shares down to around 325 level.
    However, RSI still positive sentiment with no divergence is indicating Meta is likely to move higher after a correction.
    A close below 313.60 will however, demolish the bullish scenario.

  • Microsoft is forming a symmetrical triangle-like pattern. Break out direction is key.
    However, if breaking bearish out I would wait to see if Microsoft is closing below support at around 362.90. If it does a larger sell-off could occur. A sell-off that could take the share price down to 350-340
    A bullish breakout Microsoft is likely to perform new all-time highs.
    However, with RSI divergence on both daily and weekly time period

     

  • Nvidia is once again rejected at the strong resistance around 505.48. If closing below 450.10 it could fuel a heavy sell-off down to around 400.
    A close above 5050.48 will most likely take out a lot of stops and short positions pushing Nvidia to 542 level.

     

  • Tesla closed Wednesday back below its falling trendline and is testing the upper part of the Cloud. If sellers keep in control pushing Tesla to close below 225.95 there is more downside in the cards.
    RSI will thereby also close below 40 i.e., in negative sentiment adding to a bearish scenario where Tesla could drop to around 195
    To resume uptrend a close above the Bearish Engulfing i.e., a close above 265.13 is needed.

Follow Kim Cramer Larsson for more on SaxoTrader platforms, home.saxo and Twitter Cramer's_Corner:

Author is holding positions in Alphabet and Amazon

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