Over the last 2 years, FAANG stocks (otherwise known as Facebook, Amazon, Apple, Netflix & Google) have lead the market to new high after new high.
Although these are all large cap stocks, they all have traded more like high beta “momentum” stocks recently.
Though all five FAANG stocks remain in upside trends (bullish), several are testing important channel resistance on a long and short term basis.
The 6-pack of charts below takes a look the FAANG stocks, along with the S&P 500. Note the price patterns and channels.
6-Pack: FAANG Stocks racing into resistance?
As mentioned, the trends remain “up”. However, bulls do not want to see sellers grab control here as the FAANG’s test upside resistance. Keep it on your radar!
Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.