Technical Analyst, Saxo Bank Group
Alphabet C. Closing in on strong resistance at around 143.85. A close above could pave the way to 151.
If rejected expect a correction. However, trend is bullish both short- and medium-term
Weekly chart
Amazon needs to close above 135.30 i.e., closing the gap to turn to bullish trend. An RSI close above 60 is needed to confirm that scenario.
If Amazon is closing above 135.30 a bullish move towards strong resistance at around 146.57 is in the cards
If Amazon is closing back below the 131.60 i.e., below the lower border of the gap area it could risk being range bound between 132 and 124 for quite some time.
Apple is testing lower border of the gap area at around 180.24 Apple needs to close above in order to close the gap and confirm bullish trend.
If failing to close the gap Apple could slide back in th4e 180-170 range and be stuck there for next few weeks maybe longer
Meta bullish trend. Could reach previous all-time highs around 384 but strong resistance at around 353.65 could be a struggle to penetrate.
For Meta to reverse the bullish trend a close below298.
RSI above 60 is supporting the bullish scenario
Weekly chart
Microsoft close to breaking bullish but struggling. A close above 340.86 will confirm bullish trend that can take Microsoft towards all-time highs around 366.
Key is the RSI, it needs to close above 60 threshold. If it does Microsoft is likely to challenge the 340.86 level Tesla in bullish trend. If closing above falling trendline a move to 313 in the cards.
Daily RSI is in positive sentiment suggesting Tesla I quite likely to break above the upper falling trendline.
Resistance at around 279 is then likely to be tested. And broken with a bullish move to strong resistance to follow.
A close below 240 will reverse the bullish scenario Quarterly Outlook
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