Triple AAA - Apple Alphabet Amazon Price Levels

Lionel8383
2023-02-03

So yesterday was the triple AAA earnings in which Apple, Alphabet (Google's parent) and Amazon reported earnings. All three disappointed in some way, and are expected to open lower on Friday. Here are some price levels that will get me interested to add to my existing positions.

AAPL

Yesterday's price action actually broke above the 200 daily MA, prior to reporting earnings. On hindsight, it looked close to a previous swing high and likely to form a bull trap.

First level of support at $146.50, if that is breached, then like retest $138 or even as low as $130 (which would imply almost 100% retracement of 2023's rally).


Alphabet (GOOGL, GOOG)

Personally I prefer GOOGL (otherwise known as Class A), they usually have larger trading volume than Class C of GOOG). The stock gapped up on open on Thursday following Meta's good news. 

An attempt to fill the gap to the first likely support of $101.50 is likely.  If that first support fails, then levels of $95 (or $1 or $2 above which is close to the intersection of 50 MA and 100 MA) and $86 will be levels that will attract buyers.


AMZN

Amazon also gapped up like most other stocks on Thursday. The first level of support I would most likely be looking for is at $101.80. If that fails, look for support at $92 (which is at 50 daily MA), followed by $82.


$Apple(AAPL)$ 

$Alphabet(GOOGL)$ 

$Amazon.com(AMZN)$ 

@TigerStars 

Big Tech Missed: Will they drag down the market?
Apple, Amazon and Alphabet stocks fall after mixed holiday quarter results. Apple reported a rare revenue decline for the quarter and a steeper drop than analysts had expected. Google posted a steep decline in profits as its ad sales machine came under pressure. Amazon forecast slower-than-expected sales growth for the current quarter. [TOPIC] What's your view on big tech's misses? Will tech giants' less-than-expected earnings drag down the market?
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Comments

  • Tracccy
    2023-02-04
    Tracccy
    Gonna have to do some more research on AAPL and observe on sentiment. 🤔🤔 Dunno if it has potential to reach back to 162 and 172
    • TracccyReplyLionel8383: 
      Yup That's totally right 😃😃😃
    • Lionel8383: 
      Not in the short term, probably take a few years? But isnt it better if it doesnt go up too fast? Because it will be more expensive to own the shares
  • Gloria112
    2023-02-04
    Gloria112
    I think Apple is high at this level, indeed a bull trap
    • Gloria112ReplyLionel8383: 
      Yes, indeed. not smart to add huge bets now
    • Lionel8383: 
      Wait for a pull back to have a margin of safety. Most stocks are over bought for now and due some form of retrace
  • JoanneSamson
    2023-02-04
    JoanneSamson
    👍Will be keeping an eye on those support levels. Looks like there might be some buying opportunities if the prices drop lower.
  • LMSunshine
    2023-02-13
    LMSunshine
    Thanks for the info buddy❣️ Really hope they drop to these levels you mention so I can add more! Do you think they will fall to their Dec low and break their 52W Low or unlikely? It’s always hard to decide how much to add😅
  • Juliaaa11
    2023-02-04
    Juliaaa11
    Larger trading volume usually means greater dynamism, GOOGL has a higher priority to monitor!
  • Dollydolly
    2023-02-04
    Dollydolly
    those earnings reports were a bummer. Hope we don't see too much of a dip next week
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