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NEW YORK (TheStreet) -- The stock market's five big highfliers -- Apple (AAPL) - Get Apple Inc. (AAPL) Report, Amazon (AMZN) - Get Amazon.com, Inc. Report, Google (GOOGL) - Get Alphabet Inc. Class A Report, Netflix (NFLX) - Get Netflix, Inc. (NFLX) Report and Tesla (TSLA) - Get Tesla Inc Report -- are heating up.

The stocks had positive technical setups as of last week, and this week, Amazon and Apple will report earnings after Netflix and Google both shot up on strong reports.

Netflix has been reporting earnings first each quarter, and the company has three consecutive quarters with price gaps higher.

This time Google followed with a price gap higher of its own. These moonshots tend to last for a day or two before a consolidation begins, and that's the volatility investors face this week.

Apple is set to report its quarterly results after the closing bell on Tuesday. A blowout earnings report and outlook could propel the stock above its all-time intraday high of $134.54, which was set on April 28. Analysts on average expect Apple report earnings of $1.79 a share, and they will have an eye on growth in China.

Amazon is scheduled to report after the closing bell on Thursday. The stock spiked higher beginning last week in anticipation of a positive Prime Day last Wednesday. This "Christmas in July" strategy had this stock in a moonshot to an all-time intraday high of $493.20 on Monday. Analysts expect Amazon to post a loss of 18 cents a share.

Tesla doesn't report until July 30. Its challenge is to set a new high over its all-time intraday high of $291.42 set on Sept. 4. With Monday's price of $286.65, new highs are in sight.

When trading momentum stocks that are setting new highs or are about to, investors should look at the charts that follow and prepare to adjust positions by selling on strength at key levels above the stock price and by buying on weakness to key levels below the stock price.

First, the weekly chart for Apple.


Courtesy of MetaStock Xenith

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Apple closed at $132.07 on Monday, up 19.7% year to date, significantly lagging the other four momentum stocks. Apple is above its 50-day and 200-day simple moving averages of $127.84 and $119.66, respectively. The low of $119.22 was just above the 200-day on July 9.

The weekly chart for Apple has been positive from $129.62 at the close on Friday. The key weekly moving average at $128.18 is the key level to hold on a weekly closing basis. The weekly momentum reading is projected to rise to 46.30 this week up, from 38.14 last Friday.

Investors looking to buy Apple should place a good-till-canceled limit order to purchase the stock if it drops to $122.66, which is a key level on technical charts until the end of the week.

Investors looking to reduce holdings should place a good-till-canceled limit order to sell the stock if it rises to $137.70, which is a key level on technical charts until the end of July.

The key level to hold before Apple reports results is $131.66, which is in play until the end of 2015.

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Here's the weekly chart for Amazon.


Courtesy of MetaStock Xenith

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Amazon closed at $488.10 on Monday, up 57.3% year to date, in second place among the five momentum stocks. The stock is above its 50-day and 200-day simple moving averages of $436.54 and $366.47, respectively. The stock had share price gaps higher following earnings on Jan. 30 and April 24, but this time a positive reaction could be priced into Monday's all-time intraday high of $493.20.

The weekly chart for Amazon is has been positive at the close of $434.92 for the week of June 19. The key weekly moving average has moved up to $450.85, and the stock's momentum reading is projected to continue to be overbought with a reading of 85.83 up from 82.41 on Friday.

Investors looking to buy Amazon should place a good-till-canceled limit order to purchase the stock if it drops to $466.76, which is a key level on technical charts until the end of July. Lower key levels of $443.56 and $424.87 are in play until the end of September and the end of the year, respectively.

Investors looking to book profits should consider a sell-stop order given a weekly close below the key weekly moving average which is rising at $450.85. This moving average will continue to rise each week.

Here's the weekly chart for Google.


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Google closed at $692.84 on Monday, up 30.6% year to date, in third place after the spike higher on Friday. The positive move above its 50-day and 200-day simple moving averages of $558.20 and $548.03, respectively, on July 10 was a technical reason to expect earnings strength last week.

The weekly chart has been positive from the close of $556.11 on July 10, and the stock is well above its key weekly moving average of $603.62. The weekly momentum is projected to rise to 57.59 from a level of 46.79 on Friday.

Investors looking to buy Google should place a good-till-canceled limit order to purchase the stock if it drops to $672.02 and $647.30, which are key levels on technical charts until the end of 2015 and the end of September, respectively.

Investors looking to book profits should consider a sell stop given a weekly close below the key weekly moving average which is rising at $603.62. This moving average will continue to rise each week.

Here's the weekly chart for Netflix.


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Netflix closed at $110.55 on Monday, up 126.5% year to date, many lengths ahead of the pack and well above its 50-day and 200-day simple moving averages of $93.15 and $68.25, respectively. The post-split all-time high of $117.88 was set on Friday.

The weekly chart has been positive since the close of $64.94 at the end of the week of April 10. The key weekly moving average has risen to a level of $98.61 with its weekly momentum reading well above the overbought threshold of 80.00 at 85.71, slipping slightly from 85.81 on Friday.

Investors looking to buy Netflix should place a good-till-canceled limit order to purchase the stock if it drops to $96.62, which is a key level on technical charts until the end of July. The stock stayed just above this level before the close on Wednesday, just before the company reported earnings.

Investors looking to book profits should consider a sell stop given a weekly close below the key weekly moving average which is rising at $98.61. This moving average will continue to rise each week.

Here's the weekly chart for Tesla.


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Tesla closed at $282.26 on Monday, up 26.9% year to date, ahead of Apple in fourth place. The stock is above its 50-day and 200-day simple moving averages of $256.50 and $227.69, respectively. Monday's 2015 high of $286.65 is below the all-time intraday high of $291.42 set on Sept. 4.

The weekly chart has been positive since the close of $210.90 at the end of the week of April 10. The key weekly moving average has risen to $261.76 with its weekly momentum well above the overbought reading of 80.00 at 87.50, slipping from 89.38 on Friday.

Investors looking to buy Tesla should place a good-till-canceled limit order to purchase the stock if it drops to $270.98, which is a key level on technical charts until the end of 2015.

Investors looking to book profits should place a good-till-canceled limit order to sell the stock if it rises to $333.24, which is a key level on technical charts until the end of September.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.