Cramer's Corner: Magnificent 7 are cracking: Nvidia, Amazon, Meta top and reversal patterns. Alphabet, Apple, Tesla & Microsoft in down trends
Technical analysis

Cramer's Corner: Magnificent 7 are cracking: Nvidia, Amazon, Meta top and reversal patterns. Alphabet, Apple, Tesla & Microsoft in down trends

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 the following equities will be covered:

    • Alphabet C in downtrend. Key support at around 130 and 116.50. Close above 146.20 reverse to uptrend
    • Amazon Gravestone Doji and rising Wedge pattern indicating correction down to 170-165.75. A close above 180 to extend uptrend
    • Apple down trend. Short-term bounce possible to 175-180 but key strong support at 166 area could be tested.
    • Meta Platforms Likely trend exhaustion. Break of rising trendline could fuel sell-off down to 453 support
    • Microsoft key support at around 397.20. A close below bearish trend confirmation. Next support around 384.30 and 366.50
    • Nvidia Bearish Engulfing top and reversal pattern. Larger correction in the cards. Key support 771-742. Close above Friday peak to demolish this picture and extend uptrend
    • Tesla down trend no support until around 160-152 area. To reverse a close above 205.60 necessary

     

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Disclaimer: Kim is short Apple and Tesla. Holding long position in Meta  

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