Morning Comment: Apple, Netflix And Boeing Facing Key Technical Levels

The following is a light version of Beyond The Fundementals Now, a daily newsletter from leading technical analyst and CNBC contributor Matt Maley. Click here to access a more detailed analysis.
Get two FREE weeks of BTFNow by using code 14free at checkout today!

• Quiet day today until we hear from the Fed.
• Apple's chart looks excellent.
• Netflix stands at a critical technical juncture.
• Boeing needs to hold $340 to avoid further problems.

It should be very quiet today until the Fed's announcement

It's fairly obvious that it's going to be very quiet today until the Fed’s rate announcement and press conference, so there is little we can add to what we’ve been saying over the past week. With this in mind, I'm going to focus on the charts of three stocks this morning, all of which could see meaningful moves over the coming days and weeks.

Apple will break another resistance level on today's opening

After last night's earnings, Apple AAPL looks good both on a fundamental and technical basis. So, unless the broad market rolls-over in a significant way, AAPL should have plenty of upside potential over the coming weeks. To find out the key resistance levels AAPL has broken and our near-term upside targets, click HERE to subscribe to my premium newsletter.

Netflix is at a critical technical juncture

The second stock we’d like to focus on is Netflix NFLX. If NFLX rolls back over from its current level (especially if it takes out its reaction lows), it will be incredibly bearish for the stock on a technical basis. It would signal that the recent pop in the stock was a classic example of a “dead cat bounce”. However, if it can bounce further and regain its 200 DMA, it will be quite positive.

Therefore, traders will want to stay nimble right here on NFLX. Trying to guess the next meaningful move is just that... a guess. When it comes to NFLX right now, sit tight. Don’t engage in “guesswork”. Wait for the stock to tell you what it’s next meaningful move is going to be!

Boeing needs to hold $340, or its trouble

The last chart I’d like to take a look at is Boeing BA. We all know the continued problems they have had to face with the 737 Max plane, and now we’re starting to hear more frustrations from airline executives about the situation. The inability of BA to solve this problem has the stock trading back down near a vitally important support level and any break below that level will be adding to the problems BA's stock is facing right now.

To learn more about the details on the charts of AAPL, NFLX and BA, click HERE and use code 14free to subscribe to my premium newsletter FREE for two weeks.