background image background image background image

Technical Update - Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla. How will they be performing towards Christmas?

Equities 5 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank

Alphabet A (GOOGL) jumped yesterday to close back above the Cloud (shaded area) resuming the bullish scenario.
RSI bounced off the 40 threshold i.e., still showing positive sentiment indicating likely higher share price levels.

A close above 139.42 and an RSI close above 60 will further be confirming the bullish picture with potential to all-time high around 151.55

A close below 127.90 will reverse the bullish trend likely sending the share price down to around 120
googl d 0812
Source all charts and data: Saxo Group

Amazon AMZN uptrend seems to be stalling somewhat. The Doji Evening star like pattern (circled) is indicating a top a reversal. However, it is not the most perfect textbook pattern which is a weakness suggesting it can be cancelled. A close above 149.26 will  cancel it with Amazon resuming uptrend.

And uptrend with potential to resistance around 167

A close below 142.80 is likely to fuel a sell-off down to strong support around 135.29

Divergence on the RSI is indicating exhaustion of the uptrend but a higher Amazon close and an RSI close above its falling trendline is likely to cancel the divergence pointing to higher levels

amzn d 0812
amzn w 0812

Apple AAPL is in an uptrend but with RSI divergence indicating an exhaustion od the trend. However, currently the RSI is testing its falling trendline and if RSI is closing above the falling trendline previous all-time high at around 198.23 is likely to be broken.

A close above 198.25 could give potential to 210 level.

However, if RSI is failing in closing above the dashed horizontal line the divergence persists limiting the Apple uptrend. A close below 187.45 is likely to fuel a sell-off down to test strong support at around 182

aapl d 0812

Meta (facebook) has bounced off the 55 DMA and the RSI is bouncing from the 40 threshold indicating Meta is to resume uptrend. RSI is not showing divergence suggesting Meta is to trade higher above 343.
If that scenario plays out there is potential to 361-372.

A close below 31360 will demolish the bullish picture and could initiate a sell-off down to 274
meta d 0812

Microsoft MSFT is in a bit of a limbo at the moment. The All-time high recorded last week came under RSI divergence indicating an trend exhaustion.

However, RSI is still showing positive sentiment and if Microsoft can close above 374.50 and RSI can is closing back above 60 threshold the uptrend is likely to resume with a test of the all-time high to follow.
However, if that scenario plays out Microsoft would have potential to around 392-400

A close below 362.90 a sell-off down to around 340.50 could be seen. The rising 55 DMA will give some support however, possibly limiting a bearish move
msft d 08012
Nvidia NVDA is holding on above the 55 and the 100 DMA and above the Cloud (shaded area).
RSI sentiment is still positive despite indicating divergence on  the peaks but if NVDA can break above 474 a re-test of the previous peak level just above 500 is likely to be tested and taken out. If that scenario plays out there is short-term potential up to 550-560

A close below 450 is likely toe extend the current downwards move/correction to the strong support around 400
nvda d 0812

Tesla is struggling to gain upside momentum after closing above 242.64 thus closing the gap area.
Rejected at the falling trendline Tesla shares are trading around the declining 100 DMA.

When Tesla did close above 242.64 last week RSI also closed above 60 threshold meaning it is showing positive sentiment but Tesla share price has not yet been benefitting from it.

For Tesla to gain upside momentum a close above the upper falling trendline Is needed. IF that scenario plays out there is short-term potential to 275-280.

A close below 225 is likely to confirm a downtrend with potential 195 177 levels
tsla d 0812

Disclaimer

The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.

Please read our disclaimers:
Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)
Full disclaimer (https://www.home.saxo/legal/disclaimer/saxo-disclaimer)
Full disclaimer (https://www.home.saxo/legal/saxoselect-disclaimer/disclaimer)

Saxo Bank A/S (Headquarters)
Philip Heymans Alle 15
2900
Hellerup
Denmark

Contact Saxo

Select region

International
International

Trade responsibly
All trading carries risk. Read more. To help you understand the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more

This website can be accessed worldwide however the information on the website is related to Saxo Bank A/S and is not specific to any entity of Saxo Bank Group. All clients will directly engage with Saxo Bank A/S and all client agreements will be entered into with Saxo Bank A/S and thus governed by Danish Law.

Apple and the Apple logo are trademarks of Apple Inc, registered in the US and other countries and regions. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC.