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FAANG Update

This is a syndicated repost courtesy of Slope of Hope. To view original, click here. Reposted with permission.

t’s been quite a while since we’ve glanced at the five FAANG stocks. In my view, the first three are pretty interesting and the last two are a bore.

The first, Facebook, is still holding its own within its right triangle pattern. Break that lower horizontal, and down she goes.

The next one, Apple, the largest company on the planet, has been an important part of the NASDAQ’s recent failure. Notice how cleanly it broke its trendline. As with Facebook, the horizontal you see is the next key support level.

The cleanest pattern of all five is Amazon, which was in a symmetric triangle and has now sunk beneath it. Any rally should find firm resistance at the same pattern before resuming a more serious fall.

Netflix is about as exciting as a passbook savings account.

Finally, Alphabet (that is, Google) is far and away the strongest of all things. The fact the stock looks like this after last week is remarkable.

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

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