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.
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