VF Mobile
 

FANG update

Topic: Stock Price Movements — Technical Analysis
Jan. 10 2017, 11:06 AM ET - by VF member wildmap (1802 gold star (click for information on feedback))

amzn.png
FANG update --

Facebook (FB) is approaching my "close gap" target near 128, after surviving the battle to hold 115. Unfortunately, 128 is the do or die moment, with odds tipped toward a big bear win rally failure at the gap near 128 for FB.

The chart below shows the same set-up with another FANG momo darling, Amazon (AMZN.)

The pattern I'm following - blue line in chart below - suggests AMZN should have another day or so of rally to go before the pattern would be complete, with the target 820 to close the gap.

On Balance Volume (OBV) is suggesting the rally - so far - is a dead cat bounce, and thus unlikely to survive the 820 gap fill retest.

This all spells trouble for the broader stock market, where the move I expected for the FANG stocks to close the gap pushing all stock indexes to new highs is near complete, and, if so, we are looking a very significant stock market peak to land later this week, early next.

Too early to tell is this expected peak is a ahead of the "big one," though everything is in place for such a dreaded financial event to land.

-Kevin
@AlphaKing_Kevin

1484064381amzn.png

Click To Add Your POPositive RecommendationITIVE Recommendation!   |  Currently: 
 67 positive

Email / About | Privacy | Terms of Use | How To / FAQ | Msg Ticker | VF Home | VF Mobile Home | My.vf | BDCs.vf | Energy.vf | REITs.vf | TA.vf
 
Nothing in ValueForum.com is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by ValueForum.com. ©2003 - 2019, Powered in part by Ticker TechnologiesContact Us

FANG update