FAANG Stocks Overview for Dec 02, 2019
FAANG Stocks Technical Analysis Market Overview Report for Dec 02, 2019 | by Techniquant Editorial Team
With five out of the five FAANG Stocks closing lower today, the ones that stand out on the negative side are NFLX losing -1.48% and GOOGL closing -1.17% lower. None of the markets managed to end the day in the green.
One of today's most interesting market conditions in the FAANG Stocks showed up in AAPL: Among the 12 market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "High close to prior two Highs" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for Apple. Out of 101 times, AAPL closed higher 57.43% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 66.34% with an average market move of 2.11%. Read more