Apple (AAPL) and Amazon (AMZN) Technical Analysis – AI Leaders Outlook Part 3

Welcome to the follow-up piece to our individual Stock Market leaders analysis.

Apart from the tragic news of a severe earthquake in Japan, there hasn’t been much to affect Markets ahead of Wednesday’s FOMC Rate Decision.

Stock Indexes have on a muted, red note, sending out profit-taking vibes into the Market.

The same could be said for most actively traded assets – The calm before the FOMC storm; a great occasion to dive into individual Stock names.

Towards the end of last week, we published two in-depth analyses for the four leaders of the Stock Market rally: Meta, Nvidia, Microsoft, and Google.

If you missed them, you can get access right here:

Read More:

• AI Leaders Outlook: Technical Analysis of Meta and Nvidia Stocks
• Technical Analysis of Google and Microsoft Stocks – AI Leaders Outlook part 2

With no crazy speeches or data releases expected before, the path should not be too chaotic before Wednesday.

We will now turn into Weekly and intraday charts for Apple (AAPL) and Amazon (AMZN) to conclude our pre-FOMC Stock analysis.

Apple (AAPL) Forward Price/Earnings (P/E) Ratio – 32.00 ~ High but historical for the firm

Apple is showing the example once again, consistently running higher and shows relatively restrained corrections when the stock does correct.

Running within a 5-year upward channel, the tech giant has consistently increased its earnings and made a strong push to new all-time highs just last week ($288).

Nevertheless, investors and traders will have to be cautious about the reactions to the quintessential upper-bound of the Channel:

The week has opened on a slight lower gap in the Stock which may prompt some profit-taking all the way to the $260 Pivot Zone, depending on risk-appetite after the FOMC.

The Weekly RSI also seems to be turning the other way.

Let's take a closer look.

After attaining new all-time highs last Wednesday, Apple has been subject to a not-so crazy profit-taking wave.

Now coming at a retest of the October highs, positive reactions can be expected which may only materialize after Wednesday.

In case the correction extends further however, some short-term dip-buying areas could include $270 (August Channel lower bound), $266 (8H MA 50) and $255 (Previous ATH Pivot lows).

Any weekly candle that closes below the area however could trigger further, higher timeframe mean reversion in the title.

Keep an eye on sentiment as always, particularly as we move towards 2026.

Apple (AAPL) Technical levels of Interest:

Resistance Levels

• $280 to $288 All-time High Resistance
• $288.62 Current All-Time Highs
• $295 to $305 Fib-Induced potential Resistance

Support Levels

• $260 previous ATH Major Pivot
• August 2024 Pivotal Support $230
• $200 Post-Liberation Day Range and Channel Lows
• $200 to $210 Early 2025 peak
• $170 Liberation Day Lows
• 2022 and 2023 lows between $80 to $100

Amazon (AMZN) Forward Price/Earnings (P/E) Ratio – 28.50 ~ Regressing from current elevated levels

Amazon remains a staple in the US Market, consistently increasing its revenues throughout the years. This year hasn't missed the trend.

Nevertheless, the $258.60 record reached in beginning November has preceded a strong move lower.

Not the first name that pops into investors' minds when they think of AI, Amazon Web Services (AWS) leverages the new technologies extensively .

The firm's huge investments into AI-related infrastructure could be one of the reasons why it has corrected, amid a general doubt on how sustainable this boom is:

The immense spending reduces the amount of Cash Flows reported. Strong cash positions are traditionally a reason for Amazon to outperform its peers.

Let's take a closer look.

The outlook for Amazon is one to look to get a general idea of American consumption trends – And the picture isn't so great.

A leader of consumer sales and tech services, Amazon has began a new corrective move after its end-November rebound.

Evolving within a low-slope Channel, the conditions for the Stock are more rangebound – Not such a worrying sign.

RSI is turning lower after crossing back above neutral, which leaves sellers in short-term control – Buyers will want to watch if the current move lower will see a bottom at the 200-Period Moving Average ($214.84).

A Daily close below points at further downside in the Stock – A minima test of the $200 Support. A bigger move from there will warrant further analysis.

Amazon (AMZN) Technical levels of Interest:

Resistance Levels

• November 2025 $255 to $260 Highs
• $258.60 current ATH
• $240 February 2025 Resistance

Support Levels

• $220 to $230 Pivot Zone (Acting as immediate support)
• $200 Psychological Support
• $160 to $170 Liberation Day Support
• $200 to $210 Early 2025 peak
• $161.38 Liberation Day lows
• $81.69 2023 Lows

Safe Trades and a successful FOMC Week!

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