Jump to content

Support And Resistance Levels For Facebook, Amazon, Netflix & Google


steven36
 Share

Recommended Posts

These daily price charts show the possible support and resistance levels for key, widely followed, heavily-mentioned in the business media "FANG" stocks: Facebook, Amazon, Netflix and Google.

 

Let's start with Mark Zuckerberg's publicly traded business:

9532869.jpg

Facebook daily price chart

 

You can see that once Facebook peaked at just above 215 back in July, the stock has steadily and relentlessly tanked.  It took out that previous 149 support level (from March), attempted a small bounce and then continued to the recent deeper low down near 130.

 

 

That July gap down area is an eventual target to overcome should Facebook ever begin to recover from this remarkable down trend. The price has been unable to close above that Ichimoku cloud since that time -- six months ago. That's getting to be a long time for a formerly hot Internet sensation.

 

Here is the daily price chart for Jeff Bezos' big enterprise:

 

6872448.jpg

Amazon daily price chart.

 

Amazon made it to late August before establishing a significant top at 2050. Although the stock did not suddenly gap down like Facebook, the steady descent to lower prices is similar: remaining below the Ichimoku cloud even with a decent sized bounce in November before continuing to sell-off to a lower than the October low. You can make out clearly that Amazon remains above the 1275 support level of the February low price.

 

 

Here is the Netflix chart:

1979146.jpg

 

 

This one peaked earlier than the others -- the top of 420 came in June with a retest the following month. After that, you can see the steady decline that's become so representative of this Internet-related sector since June.

 

At the most recent price of 250, it looks as if Netflix is about to at least re-test the previous low -- and support level -- of about 238 from February.  This chart has established an ersatz type of head and shoulders top, possibly. Also, while Netflix continued downward for months, one of its competitors, Disney, has continued higher to establish new highs.

 

And this is the Google (legal name: Alphabet, Inc.) chart:

9989555.jpg

 

Another monster Internet stock makes a summertime high and then takes a dive. The Google peak price is 1270 and now we're all the way down to 1000 -- almost all the way back to the March 980 low which represents some kind of support level.

 

Each of these FANG price charts is unique in structure and yet they all show the same kind of general, overall pattern where a summer peak gives way to extensive selling as fall approaches and kicks in. Google is no different judging from the appearance of this chart.

 

Just for comparison's sake, here is a non-Internet stock you could have owned instead:

 

7257443.jpg

 

Clorox daily price chart.

 

You don't hear Clorox mentioned much on the business channels or in the financial media -- certainly not even close to the number of times the FANG stocks are referenced. Nonetheless, Clorox continues to make new highs. Maybe it's better not to be the focus of so much attention.

 

I do not hold positions in these investments. No recommendations are made one way or the other.  If you're an investor, you'd want to look much deeper into each of these situations. You can lose money trading or investing in stocks and other instruments. Always do your own independent research, due diligence and seek professional advice from a licensed investment advisor.

 

Source

Link to comment
Share on other sites

  • Replies 0
  • Created
  • Last Reply

Top Posters In This Topic

  • steven36

    1

Popular Days

Top Posters In This Topic

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...