I’m sure you’ve all been following the news out of G20 (although perhaps not as obsessively as I have). I’ve also been looking at other sites where traders are chattering on about it. The widespread conclusion seems to be that we’re going to go roaring higher into the new week.
As we awaiting whatever happens when the bell opens on Monday, I thought we’d take some time to look at the important FAANG stocks and their price gaps. Now when I mention “price gaps”‘, in some cases they are truly gaps, and in others they are simply crucial price levels. If any (or all) of these are crossed to the upside, it means this group is genuinely healing. If not, the recent strength could be nothing more than a countertrend blip. So let’s go through them……….
First, there is the scandal-plagued Facebook (for each of these stocks, I have deliberately done a mouseover where the crucial price level is, so that is highlighted in each chart):
Apple (with a very plain price gap):
Netflix, which I consider the least-interesting of these:
And, lastly, Google (oh, sorry, Alphabet):