AAPL, AMZN, BABA, FB, GOOGL, NFLX updates 6/5

Let’s review some of the most important big tech stock names:

AAPL: Looks best IMHO as to be wrapping up minor-3 of intermediate-iii of major-3 of Primary-V.  Ideal target for iii: $160. Ideal target for iv: $140. Once iii and iv are confirmed we can then assess major-3.

aapl 1

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AMZN: it’s count has been giving me headaches, so I went back to the monthly chart to determine the big picture. Price is now for sure in intermediate-iii of major-5 of Primary-III. Question now is if it is in minor-3 of iii or already in v of 5 of III… I can’t conclude which it is. Price will tell eventually. Risk however is increasing at current levels.

amzn2

As there are so many waves on the daily chart since the November low, and because of the i/1, ii/2, iii/3 ambiguity the color-coding/labeling is not proper, but it helps me as a guide: Looks like it needs one more purple 4, 5 to complete all five (black) waves of that low. That fits with the monthly chart’s count

amzn

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BABA: Is IMHO close to completing all of major 3. It surpassed the ideal $113-118 target and is now struggling with upper trendline resistance. Once 3 completes (around $130) major 4 should bottom around  $100-$105: it’s the (blue) bull flag’s flag (S/R zone). A brek below last month’s low ($113) will confirm major 4 is underway.

baba

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GOOGL: Joined the $1000 club today! Counts best as close to completing minor-3 of of intermediate-iii of major-3 of Primary-V. Fits well with general market too. Negative divergence is starting to build on RSI5. Minor-4 should drop to ~$960-$940. Minor 5 should then target $1010-$1020.

googl

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FB: see https://investingintelligent.com/2017/06/04/fb-update-close-to-a-significant-top/

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NFLX: Top  hunting has been difficult on all big-tech names. But also here price is honing in on the ideal price target: it is either intermediate-iii or major-3. Regardless, a correction is coming. We’ll see where it bottoms, but the $145-$135 zone is obviously very good S/R: thus that’s the first logical target.

nflx