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Apple and Amazon Lead Momentum

Forecast 1-Year Return: Stocks with a red number are projected to decline by that percentage over the next 12 months. Stocks with a black number in the table are projected to move higher by that percentage over the next 12 months.

Value Level: Price at which to enter a GTC limit order to buy on weakness. The letters mean; W-weekly, M-monthly, Q-quarterly, S-semiannual and A-annual.

Pivot: A level between a value level and risky level that should be a magnet during the time frame noted.

Risky Level: Price at which to enter a GTC limit order to sell on strength.

[Read: 5 Tech Stocks Spiking on Unusual Volume]

Apple ($565.00 vs. $520.63 on Nov. 13) has been above its 200-day simple moving average since Sept. 18 and set a new 2013 high at $569.19 on Wednesday. Apple is projected to open above my weekly pivot at $567.01 this morning. Apple appears to be benefiting from a boom in holiday sales and now has an iPhone deal with China Mobile. Apple's weekly chart profile is positive but overbought with its five-week modified moving average at $528.20. Monthly and annual value levels are $521.87 and $510.64 with my semiannual risky level at $620.84. ($385.96 vs. $356.22 on Nov. 13) has been above its 200-day SMA since May 3 and set a new all-time high at $399.00 on Dec. 2 on the report that same day packages will be sent to customers via drones. Amazon has a positive but overbought weekly chart profile with its five-week MMA at $362.01. My monthly value level is $366.13 with a weekly risky level at $401.24, which was nearly tested at Monday's all-time high. Momentum traders will continue to ignore the stock's 12 month trailing P/E ratio at 629.3.

Chipotle ($518.11 vs. $537.56 on Nov. 13) has been above its 200-day SMA since March 3 and set a new all-time high at $550.28 on Nov.18. The modest decline since the high can be attributed to generally weaker same store sales among many eateries. As a sign of continued momentum the daily chart is oversold, while the weekly chart remains positive but overbought with its five-week MMA at $510.23. My semiannual value level is $473.26 with a monthly pivot at $543.57 and weekly risky level at $604.95.

Google (GOOG) ($1058.18 vs. $1032.47 on Nov. 13) has been above its 200-day SMA all year long and came close to a test of this support with a low of $842.98 on Oct. 9. Google set a new all-time high at $1068.00 on Nov 27. The weekly chart is positive but overbought with its five-week MMA at $1012.61. My quarterly value level is $986.18 with weekly and monthly pivots at $1155.72 and $1058.36.

Stock quotes in this article: AAPL, AMZN, CMG, GOOG, LNKD, NFLX, PCLN, TSLA 

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