Today’s 6-pack of stock charts takes another look at the market leading Technology sector.
As I mentioned on Monday, the Nasdaq has formed two bearish divergences (one external and one internal) that investors should monitor.
Today we transition to tech leadership: The FAANG stocks. They may provide more color for investors worried about tech.
3 of 5 FAANG stocks are testing important breakout levels: Amazon (AMZN), Apple (AAPL), and Netflix (NFLX). Breakouts for any of these 3 FAANG stocks would go a long ways in pacifying investor concerns. However, those levels remain resistance until proven otherwise. And investors certainly don’t want selling to begin here.
The other two FAANG stocks are testing or nearing support. Facebook (FB) is in a world of hurt after concerns over its data became big news this week. And Alphabet (GOOGL) is in no man’s land but nearing lower support. Once again, bulls don’t want to see selling there!
You can see each of these FAANG stocks below, along with the S&P 500. Tech has been an important part of the bull market, so its a good idea put these tech leaders on your radar.
FAANG / S&P 500 6-Pack
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