FAANG Technicals
Created a composite price chart (FB+AAPL+AMZN+NFLX+GOOGL)
Saw some horizontals, place a fib w/extension, just so happens FAANG reached a 1.618 extension which just works for a reversal. Price closed Monday (3/16/20) at the 50% level in the original trading range
Relative to the prior 2 years FAANG is still the strongest and may be due to the excess of cash reserves (AAPL 200B+, AMZN 50B+, FB 50B+, etc) and limited debt financing. Wouldn't be surprised if these firms acquire targets at a faster rate than already had been.
From a trading perspective, markets are too volatile to want to enter.
From an investing perspective, these firms are cheaper than they were and have been whilst outperforming on the decline (S&P down 29% from peak, QQQ down 25% from peak, FAANG down 23% from peak). --> Dollar cost averaging may make sense
Saw some horizontals, place a fib w/extension, just so happens FAANG reached a 1.618 extension which just works for a reversal. Price closed Monday (3/16/20) at the 50% level in the original trading range
Relative to the prior 2 years FAANG is still the strongest and may be due to the excess of cash reserves (AAPL 200B+, AMZN 50B+, FB 50B+, etc) and limited debt financing. Wouldn't be surprised if these firms acquire targets at a faster rate than already had been.
From a trading perspective, markets are too volatile to want to enter.
From an investing perspective, these firms are cheaper than they were and have been whilst outperforming on the decline (S&P down 29% from peak, QQQ down 25% from peak, FAANG down 23% from peak). --> Dollar cost averaging may make sense
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