Amazon.com Inc (NASDAQ: AMZN), Apple Inc. (NASDAQ: AAPL) and Netflix inc (NASDAQ: NFLX) are lagging behind their FAANG counterparts.
After a pullback of 18%, 21%, and 17%, respectively, from their all-time highs, none of the stocks hit an all-time high, as was the case with Facebook Inc (NASDAQ: FB) and Alphabet inc (NASDAQ: GOOG) (NASDAQ: GOOGL).
This may change, however, as the Nasdaq 100 has had seven bullish trading sessions and appears to be returning to its all-time high of 13,909.80 reached on Feb.16.
Amazon chart: Amazon broke above the bullish downtrend channel it had traded in since September 2, 2020 on Thursday.
On April 1, the eight-day exponential moving average (EMA) crossed the 21-day EMA, which is optimistic, and Amazon has since traded above both, usually following the EMA.
While it looks somewhat widened from the EMA on the daily chart, which means some daily consolidation may be required for the EMA to catch up with Amazon’s price, the stock appears to be heading towards the next resistance level around $ 3,342.
If Amazon stock can rise above the next resistance level, it could return to its all-time high of $ 3,552.25.
Apple chart: On Wednesday, Apple stock broke above its $ 127.28 resistance level after gaining a continuation of its bullish inverted head and shoulder pattern.
It is trading above the eight-day and 21-day EMA, which crossed on April 5, but like Amazon, it extends from the EMA and may require consolidation before a stronger move higher.
If Apple shares can maintain an upward trajectory, they should break the chart in the $ 332 range.
Netflix Chart: On April 1, Netflix stocks pulled out of the descending channel that they had been trading on since January 20, when the eight-day EMA and 21-day EMA crossed.
Like Amazon and Apple stocks, it is currently being expanded from the EMA, and on Thursday afternoon, Netflix stock failed to break through the $ 557.39 resistance level.
If Netflix can overcome this resistance level, there won’t be much resistance in its way until it hits its previous all-time high of $ 593.95.
Related link: Netflix hijacks US rights to Sony image streaming
Price action AMZN, AAPL, NFLX: Amazon shares traded 0.64% higher at $ 3,300.26 ahead of Thursday’s close.
Apple shares rose 1.81% to $ 130.21.
Netflix shares added 1.2% to $ 553.58.
Photo courtesy of Amazon.
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