FAANG Stocks Overview for May 22, 2020


FAANG Stocks Technical Analysis Market Overview Report for May 22, 2020 | by Techniquant Editorial Team

Highlights

GOOGL rises to highest close since February 24th
AMZN unable to break through key resistance level
NFLX breaks below 20-day moving average for the first time since March 25th
AAPL dominated by bulls lifting the market higher throughout the day
FB closes within previous day's range

Summary

With three out of the five FAANG Stocks closing higher today, the ones that stand out on the positive side are FB gaining 1.52% and AAPL closing 0.64% higher. On the flipside the worst performers have been NFLX closing -1.59% lower and AMZN losing -0.4%.

One of today's most interesting market conditions in the FAANG Stocks showed up in NFLX: Among the seven market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bearish Break through SMA 20" stand out. Though it is usually interpreted as bearish, it has actually shown to be bullish for Netflix. Out of 131 times, NFLX closed higher 55.73% 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 61.07% with an average market move of 2.42%. Read more

FAANG Stocks Overviews

GOOGL 1,413.24 6.49 (0.46%) GOOGL ended the week 2.93% higher at 1413.24 after gaining $6.49 (0.46%) today, slightly outperforming the Nasdaq 100 (0.38%) ahead of tomorrow's Memorial Day market holiday. Today's close at 1413.24 marks the highest recorded closing price since February 24th. Trading up to $7.90 lower after the open, Alphabet managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Read more
AMZN 2,436.88 -9.86 (-0.40%) Moving lower for the 2nd day in a row, AMZN ended the week 1.12% higher at 2436.88 after losing $9.86 (-0.4%) today, underperforming the Nasdaq 100 (0.38%) ahead of tomorrow's Memorial Day market holiday. Trading $14.84 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 2442.54, Amazon. com confirmed its breakout through the previous session low after trading up to $12.41 below it intraday. Read more
NFLX 429.32 -6.93 (-1.59%) Moving lower for the 5th day in a row, NFLX finished the week -5.48% lower at 429.32 after losing $6.93 (-1.59%) today on low volume, strongly underperforming the Nasdaq 100 (0.38%) ahead of tomorrow's Memorial Day market holiday. Closing below Thursday's low at 430.25, the market confirmed its breakout through the previous session low after trading up to $3.07 below it intraday. Read more
AAPL 318.89 2.04 (0.64%) AAPL ended the week 3.63% higher at 318.89 after gaining $2.04 (0.64%) today on low volume, slightly outperforming the Nasdaq 100 (0.38%) ahead of tomorrow's Memorial Day market holiday. The bulls were in full control today, moving the market higher throughout the whole session. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range in a lackluster session. Read more
FB 234.91 3.52 (1.52%) Moving higher for the 7th day in a row, FB finished the week 11.4% higher at 234.91 after gaining $3.52 (1.52%) today, notably outperforming the Nasdaq 100 (0.38%) ahead of tomorrow's Memorial Day market holiday. Today's close at 234.91 marks the highest recorded closing price ever. Trading up to $2.77 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. The last time this happened on May 8th, FB gained 0.39% on the following trading day. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more

Detailed Reports

Daily technical analysis candlestick chart for Amazon.com Inc. (AMZN) as at Jul 06, 2020
Jul 06, 2020
Daily technical analysis candlestick chart for Alphabet Inc. (GOOGL) as at Jul 06, 2020
Jul 06, 2020
Daily technical analysis candlestick chart for Facebook Inc. (FB) as at Jul 06, 2020
Jul 06, 2020
Daily technical analysis candlestick chart for Apple Inc. (AAPL) as at Jul 06, 2020
Jul 06, 2020
Trending Assets
Top Movers