FAANG Stocks Overview for Dec 13, 2019
FAANG Stocks Technical Analysis Market Overview Report for Dec 13, 2019 | by Techniquant Editorial Team
With three out of the five FAANG Stocks closing higher today, the ones that stand out on the positive side are AAPL gaining 1.37% and AMZN closing 0.03% higher. On the flipside the worst performers have been FB closing -1.34% lower and GOOGL losing -0.12%.
One of today's most interesting market conditions in the FAANG Stocks showed up in FB: Among the four market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "Close crossed below the lower Bollinger Band" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for Facebook. Out of 42 times, FB closed higher 64.29% 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 69.05% with an average market move of 2.29%. Read more