The Bottom Line:
- Market approaching critical levels
- Tesla testing resistance at 187.5
- NVIDIA showing strength near 920 level
- Apple facing dip due to stake cut by Warren Buffett
- Amazon and Meta targeting supports and resistances
Market Approaching Critical Levels
Market Resistance Levels and Ticker Analysis
When I essentially look at the chart like this, you guys can see that we have the balance up here at this 515 area SPY came just short of that so far, I think we approached 514 around that area coming just a little bit short. So we’re going to be watching to see, do we end up getting a rejection off 54.5 to 515 this range right here and then we retrace back down to the 512s or do we end up continuing to go? If we break past 515, we could remain bullish, and then that spike could start pushing to higher levels such as 5615.8. But if we fail right here, if we get this rejection, we could start dipping all the way down towards 52.5.
Tesla’s Movement and Potential Support
Tesla did push to 187.5, very close to this resistance I had right here. So that is where, if you were day trading this – this is not financial advice, by the way – but that’s where I took profits, at least on my very quick scalps. Now Tesla’s kind of rejecting, so that also could have been a short opportunity right here as it failed at this level.
Analysis of Other Tickers
Apple will likely see a little dip. I told you it’s going to rebound a bit and then continue to trade a little sideways. But instead of trading a bit more sideways, they’re actually dipping a little bit more, and that’s because of the news that Warren Buffett once again cut a stake. If Apple does dip a bit more, we’re going to be watching to see how well it holds above 182. Losing this opens the door for between 438 and 439. So we’re at some tight resistance, and we’ll have to see what happens from there. Amazon has more upside potential overall, looking at the chart. But if it does dip a little bit here, we’ll be looking at support at 184. That’s going to be our critical support. Also 185.68, those are your two supports. It could dip a little bit, but there is still upside potential as this is still on an uptrend.
Tesla Resistance Testing at 187.5
Tesla Resistance Testing at 187.5
Tesla did push to 187.5, very close to this resistance I had right here. So that is where, if you were day trading this – this is not financial advice, by the way – but that’s where I took profits, at least on my very quick scalps. Now Tesla’s kind of rejecting, so that also could have been a short opportunity right here as it failed at this level.
Analysis of Apple’s Movement
Apple will likely see a little dip. I told you it’s going to rebound a bit and then continue to trade a little sideways. But instead of trading a bit more sideways, they’re actually dipping a little bit more, and that’s because of the news that Warren Buffett once again cut a stake. If Apple does dip a bit more, we’re going to be watching to see how well it holds above 182. Losing this opens the door for between 438 and 439. So we’re at some tight resistance, and we’ll have to see what happens from there.
Amazon Support Levels and Potential Upside
Amazon has more upside potential overall, looking at the chart. But if it does dip a little bit here, we’ll be looking at support at 184. That’s going to be our critical support. Also 185.68, those are your two supports. It could dip a little bit, but there is still upside potential as this is still on an uptrend.
NVIDIA Showing Strength Near 920 Level
NVIDIA Still Displaying Strength Near 920 Level
Nvidia is still pushing, showing a lot of strength as it has broken past the 900 level. Next, we need to watch closely near the 920 range, where Nvidia has previously seen rejection close to this level. If it rejects around 920, we might see a pullback; however, if it continues to push beyond this point, the stock could potentially move higher.
Apple Dipping on News of Stake Cut by Warren Buffett
Apple is experiencing a slight dip due to the news of Warren Buffett cutting a stake in the company. Expectations of a rebound have shifted slightly as Apple is dipping more than anticipated. Watching for support above 182 is crucial, as breaking below could lead to further declines towards 438 or 439.
Amazon Support Levels and Potential Upside Movement
Amazon, while still showing upside potential overall, might experience a temporary dip. Critical support levels to monitor are at 184 and 185.68. Despite a possible dip, the uptrend suggests there is still room for growth in Amazon’s stock price.
Apple Facing Dip from Warren Buffett Stake Cut
Apple Dipping on News of Stake Cut by Warren Buffett
Apple is experiencing a slight dip due to the news of Warren Buffett cutting a stake in the company. Expectations of a rebound have shifted slightly as Apple is dipping more than anticipated. Watching for support above 182 is crucial, as breaking below could lead to further declines towards 438 or 439.
Amazon Support Levels and Potential Upside Movement
Amazon, while still showing upside potential overall, might experience a temporary dip. Critical support levels to monitor are at 184 and 185.68. Despite a possible dip, the uptrend suggests there is still room for growth in Amazon’s stock price.
Amazon and Meta Targeting Supports and Resistances
Analysis of Amazon and Meta Support and Resistance Levels
Amazon still has upside potential overall, and its critical support levels to watch are at 184 and 185.68. If there is a dip, these levels could be key in determining further movement. On the other hand, Meta reached the target of 457; if it breaks resistance, it could move towards 460. Keeping an eye on support at 451 and resistance at 457 will provide insights into future price action.
Critical Levels for Apple and Market Behavior
Apple is experiencing a dip following news of Warren Buffett cutting a stake, leading to a shift in expected movements. Monitoring support above 182 is crucial, as a break below could trigger declines towards 438 or 439. In the broader market context, reaching tight resistance levels suggests a critical juncture where a breakout or pullback could occur. Observing how these levels react will be essential for traders navigating the current market environment.
