Don't rely on it Amazon.com, Inc. (NASDAQ: AMZN), Netflix, Inc. (NASDAQ: NFLX) or Apple Inc. (NASDAQ: AAPL) to hit new highs soon. All three have significant resistance just above their current prices.

Resistance is a group or concentration of vendors gathered at or near the same price level. They are all trying to get the same price for their shares. Rallies end when they reach a level of resistance, and stocks often trend lower afterwards.

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There is resistance for Amazon at the $ 3,400 level. It was the peak of October, February and the beginning of this month.

The resistance for Netflix is ​​$ 560. Over the past few months, every time stocks hit this level, there has been a sell-off.

For Apple, the resistance is at $ 137. Shares have hit this level five times since September. A sell-out followed at every opportunity.

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