In case you haven't heard of this one, FAANG is the name of a group of stocks that includes Facebook, Apple, Amazon, Netflix, and Google. Just a couple of small companies.
Since these companies make up such a large part of the market, then it's good to keep an eye on how they're doing, even if you don't trade them directly.
On January 1, 2019, I took the following scan of these five companies and this is what I saw:
Here's an updated scan for the FAANG stocks, after Friday's rally:
So, I did a short video, looking at each company's daily charts, and this is what I saw:
It will be interesting to come back to this page and see what happens. Charts change. Perhaps those areas of possible resistance will only be temporary blocks to a continued rally. But, at this point, AMZN looks to have the best shot of a bullish break-out.
Here's an article published today on CNBC about the FAANG stock charts:
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