Tech Giants Rebound as Tesla Hits Resistance and Amazon Tests Support
Tesla's rebound is continuing to gain momentum, with the stock price holding above $338.43 after a 0.46% increase in pre-market trading.
The key level of resistance for Tesla remains at $350, which has been a significant hurdle for the stock in the past. The 50-day EMA is also approaching this area and will be an important indicator of the stock's trend.
Amazon, on the other hand, is testing the 50% Fibonacci retracement level after its earnings-driven surge. The 50-day EMA is below this level, which could provide support for the stock if it continues to decline.
Apple is stabilizing above $300, where a potential double bottom has developed in recent trading. This could be an indication that the stock is recovering from its previous declines and may continue to rise in the coming days.