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Technical Update - Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla
Kim Cramer Larsson
Technical Analyst, Saxo Bank Group
Summary: Alphabet establishing uptrend?
Amazon breaking bullish
Apple struggling to maintain upside momentum
Meta confirming bullish picture
Microsoft stalling. Continuing the Bullish trend or reversal?
Nvidia on the verge of breaking bullish, but will it?
Tesla could be breaking deadlock and built bullish trend
Alphabet C (Google) is trying to establish an uptrend short-term. If closing above 141.10 and if RSI is closing back above 60 threshold that scenario is to playout.
If that scenario plays out there is upside potential to previous all-time high around 151.8, possibly higher.
Amazon closed Frida above resistance at around 149.26 thus breaking bullish out of its Ascending triangle.
The top and reversal pattern formed in November and the RSI divergence now cancelled.
Amazon seems et for higher levels with no strong resistance until around 167.50.
Weekly chart is close to cancel its RSI divergence, an RSI close above 73.33 will do just that. If that occurs there is further upside potential for Amazon on the medium-term time frame
If 167.50 is broken Amazon could move to test its all-time highs at around 188.65.
To demolish the bullish scenario a close below 140 is needed Apple seems struggling at maintaining upside momentum. Three attempts at closing above all-time highs 198.23 has so far failed. A Doji Evening like pattern has formed indicating top and reversal. (Ideally the candle formed Friday last week should have been a full bearish red candle)
RSI divergence is supporting the view of a trend exhaustion
To regain momentum and cancel RSI divergence a share price close above 199.62 is needed and followed by an RSI close above its horizontal dashed line at 73.13.
Weekly chart RSI is showing massive divergence indicating the current uptrend is exhausting.
A close above 199.62 could fuel a rally to around 210 levelA close below 187.45 is likely to resulting in a bearish to establishing
Meta Platforms closed higher above 342.92 confirming the bullish trend.
RSI closed back above 60 threshold adding to the bullish picture. A test of resistance at around 353.65 and the 1.382 projection of the latest correction at 354.10 seems quite likely.
To reverse this scenario a close below 313.65 is needed
Microsoft is in a bit of a limbo. A close low 362.90 could fuel a sell-off down to 350-340.
A close above 378 is likely to resume uptrend. If RSI is closing back above 60 threshold it will confirm that scenario.
A close above 384.30 will further confirm the bullish picture also on medium-term.Medium-term the uptrend is intact but there is RSI divergence indicating trend exhaustion. If RSI closing above 74.78 the divergence will be cancelled supporting higher Microsoft share prices
Nvidia is likely to confirm bullish trend. A close above 505.48 will do just that. Daily RSI is back above 60 threshold strongly indicating that is the scenario to play out.
If that scenario plays out Nvidia will have broken bullish out of its sideways range – see weekly chart - with potential to 560 - 600.The RSI divergence on the weekly chart is a bit of a warning signal. However, RSI is above 60 indicating the bullish trend is to resume
A close below 450 will likely establish a bearish trend short-term. A close below 392 will establish a Medium-term bearish trend
Tesla has broken above its upper falling trendline and _RSI is above 60 indicating short-term upside potential to 279.50 resistance level.
Medium-term the trend is still bearish with Tesla testing the upper falling trendline. If the weekly RSI can close back above 60 Tesla is likely to trade higher. A weekly close above 279 will confirm medium-term bullish trend ahs been established.
Strong resistance at around 313.61 could be a hard nut to crack. But a close above 313.61 could fuel a buying towards 385-415
A close below 225.95 will demolish the short-term bullish trend. A close below 219.90 will confirm bearish trend medium-term Author is holding a position in Amazon
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