Be Aware Of These Key Technical Levels As You Trade Today - Netflix (NASDAQ:NFLX), Johnson & Johnson (NYSE:JNJ)

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Here are some of the most notable technicals discussed by Joel Elconin and Dennis Dick during Wednesday's edition of PreMarket Prep.

S&P Futures hit a premarket high of $2,085.75. Elconin doesn't think we’ll be getting back up there Wednesday and also noted a key level of support at the lower $2,060 handle.

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Southern Co (NYSE: SO) has closed higher eight days in a row. Despite dropping from $54.49 at the open, Elconin noted $55 as a key level of resistance.

Johnson & Johnson (NYSE: JNJ) hit an all-time high of $123.23 on Tuesday, but Elconin believes the all-time closing high of $122.27 is more relevant. He's waiting for a topping or bottoming formation to appear before he makes any move.

Tesla Motors Inc (NASDAQ: TSLA) spent Wednesday's pre-market trading around the $210 level. Elconin noted as long as the stock's trading above $200.05 he'd be long.

Netflix, Inc. (NASDAQ: NFLX) spent the first few hours of Wednesday trading above $94. Elconin believes it's inevitable the video platform will fill a gap at $91.72.

Ask our hosts questions and get more technical reads and trading ideas on the rest of the market LIVE on PreMarket Prep every morning from 8-9:30 ET. Or if you miss it, catch the podcast on iTunes, Soundcloud and Stitcher.