The first thing worth noticing is that all five of these stocks are trading above their 200 day moving averages (red lines). The worst performer in this regard is Visa. I have abandoned my 250 target for Visa and expect it to stay below its January top for the rest of the bull market.
The top chart shows Apple in a strong uptrend. My near term target for AAPL is 108 or so but I am thinking in terms of 120-25 before the bull market ends
Below AAPL's chart is that of Google. GOOGL is still below its February top but does show a pattern of higher lows since then. I think GOOGL will make it at least to 650 before the bull market ends.
The third chart from the top is that of Facebook. My upside target for FB remains 90 or so.
The fourth chart shows price action in Twitter. TWTR has reached the 50-52 target I mentioned in my last post on these stocks but I don't think its upswing is over. I am looking for 65 as the next stop.
Alibaba has not even established its IPO price yet but talk is of 68-70. BABA will begin trading on the New York Stock Exchange tomorrow as soon as the market finds a price which will balance the order book. My guess is that initial enthusiasm will send BABA to 90-95 but after that I expect to see BABA dip below its IPO price.
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