FAANG Stocks Overview for Sep 16, 2020


FAANG Stocks Technical Analysis Market Overview Report for Sep 16, 2020 | by Techniquant Editorial Team

Highlights

AMZN runs into sellers around 3187.24 for the third day in a row
NFLX fails to close above 50-day moving average
GOOGL dominated by bears dragging the market lower throughout the day
AAPL breaks below key technical support level
FB snaps to lowest close since August 19th

Summary

With five out of the five FAANG Stocks closing lower today, the ones that stand out on the negative side are FB losing -3.27% and AAPL closing -2.95% 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 NFLX: Among the eight market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Price broke through Technical Support S1" stand out. Though it is usually interpreted as bearish, it has actually shown to be bullish for Netflix. Out of 191 times, NFLX closed higher 52.36% 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 62.30% with an average market move of 2.64%. Read more

FAANG Stocks Overviews

AMZN 3,078.10 -78.03 (-2.47%) AMZN finished Wednesday at 3078.10 losing $78.03 (-2.47%), underperforming the Nasdaq 100 (-1.67%). Today's close at 3078.10 marks the lowest recorded closing price since July 30th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Tuesday's low at 3108.92, the share confirmed its breakout through the prior session low after trading up to $34.76 below it intraday. Read more
NFLX 483.86 -12.13 (-2.45%) NFLX finished Wednesday at 483.86 losing $12.13 (-2.45%), underperforming the Nasdaq 100 (-1.67%). The bears were in full control today, moving the market lower throughout the whole session. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more
GOOGL 1,512.09 -23.03 (-1.50%) GOOGL finished Wednesday at 1512.09 losing $23.03 (-1.5%) on low volume, but still slightly outperforming the Nasdaq 100 (-1.67%). The bears were in full control today, moving the market lower throughout the whole session. Closing below Tuesday's low at 1522.10, the share confirmed its breakout through the prior session low after trading up to $10.51 below it intraday. Read more
AAPL 112.13 -3.41 (-2.95%) AAPL finished Wednesday at 112.13 losing $3.41 (-2.95%), significantly underperforming the Nasdaq 100 (-1.67%). The bears were in full control today, moving the market lower throughout the whole session. Closing below Tuesday's low at 113.61, the market confirmed its breakout through the prior session low after trading up to $1.56 below it intraday. Read more
FB 263.52 -8.90 (-3.27%) FB finished Wednesday at 263.52 losing $8.90 (-3.27%), strongly underperforming the Nasdaq 100 (-1.67%). Today's close at 263.52 marks the lowest recorded closing price since August 19th. Trading $5.15 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. The last time this happened on Monday, FB actually gained 2.36% on the following trading day. Ending with a weak close near the low of the day sets a bearish note for the next session. Read more

Detailed Reports

Daily technical analysis candlestick chart for Alphabet Inc. (GOOGL) as at Oct 23, 2020
Oct 23, 2020
Daily technical analysis candlestick chart for Facebook Inc. (FB) as at Oct 23, 2020
Oct 23, 2020
Daily technical analysis candlestick chart for Apple Inc. (AAPL) as at Oct 23, 2020
Oct 23, 2020
Daily technical analysis candlestick chart for Amazon.com Inc. (AMZN) as at Oct 23, 2020
Oct 23, 2020
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