FAANG Stocks Overview for Jul 31, 2020


FAANG Stocks Technical Analysis Market Overview Report for Jul 31, 2020 | by Techniquant Editorial Team

Highlights

GOOGL plummets $50.42 (-3.28%) after posting strong earnings
AAPL ends the day on a bullish note closing near the high of the day
FB soars, gaining $19.17 (8.17%) within a single day on high volume
AMZN gains $112.80 (3.7%) after posting strong earnings
NFLX closes higher for the 2nd day in a row

Summary

With four out of the five FAANG Stocks closing higher today, the ones that stand out on the positive side are AAPL gaining 10.47% and FB closing 8.17% higher. On the flipside the worst performer has been GOOGL closing -3.28% lower.

One of today's most interesting market conditions in the FAANG Stocks showed up in GOOGL: Among the nine 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 Alphabet. Out of 144 times, GOOGL closed higher 51.39% 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 59.03% with an average market move of 0.72%. Read more

FAANG Stocks Overviews

GOOGL 1,487.95 -50.42 (-3.28%) GOOGL ended the month 4.93% higher at 1487.95 after tanking $50.42 (-3.28%) today on high volume, notably underperforming the Nasdaq 100 (1.78%) following Thursday's earnings report. This is the biggest single-day loss in over a month. The last time we've seen such an unusually strong single-day loss on June 26th, GOOGL actually gained 2.54% on the following trading day. Today's close at 1487.95 marks the lowest recorded closing price since July 2nd. Closing below Thursday's low at 1495.17, the market confirmed its breakout through the prior session low after trading up to $41.03 below it intraday. Read more
AAPL 106.26 10.07 (10.47%) Moving higher for the 3rd day in a row, AAPL ended the month 16.51% higher at 425.04 after surging $40.28 (10.47%) today on high volume, strongly outperforming the Nasdaq 100 (1.78%) following Thursday's earnings report. This is the biggest single-day gain ever recorded for Apple. The last time we've seen such an unusually strong single-day gain on June 10th, AAPL actually lost -4.80% on the following trading day. Today's close at 425.04 marks the highest recorded closing price ever. Trading up to $8.18 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Ending with a strong close near the high of the day sets a bullish note for the next session. Read more
FB 253.67 19.17 (8.17%) Moving higher for the 3rd day in a row, FB ended the month 11.71% higher at 253.67 after surging $19.17 (8.17%) today on high volume, strongly outperforming the Nasdaq 100 (1.78%) following Thursday's earnings report. This is the biggest single-day gain ever recorded for the share. Today's close at 253.67 marks the highest recorded closing price ever. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session. Read more
AMZN 3,164.68 112.80 (3.70%) Moving higher for the 3rd day in a row, AMZN ended the month 14.71% higher at 3164.68 after gaining $112.80 (3.7%) today on high volume, notably outperforming the Nasdaq 100 (1.78%) following Thursday's earnings report. The bears were in full control today, moving the market lower throughout the whole session. Read more
NFLX 488.88 3.08 (0.63%) Moving higher for the 2nd day in a row, NFLX finished the month 7.44% higher at 488.88 after gaining $3.08 (0.63%) today, significantly underperforming the Nasdaq 100 (1.78%). Trading up to $3.79 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. The last time this happened on July 16th, NFLX actually lost -6.52% on the following trading day. Closing above Thursday's high at 488.35, Netflix confirmed its breakout through the prior session high after trading up to $6.45 above it intraday. Read more

Detailed Reports

Daily technical analysis candlestick chart for Amazon.com Inc. (AMZN) as at Sep 18, 2020
Sep 18, 2020
Daily technical analysis candlestick chart for Alphabet Inc. (GOOGL) as at Sep 18, 2020
Sep 18, 2020
Daily technical analysis candlestick chart for Facebook Inc. (FB) as at Sep 18, 2020
Sep 18, 2020
Daily technical analysis candlestick chart for Apple Inc. (AAPL) as at Sep 18, 2020
Sep 18, 2020
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