Since my article from the other day covered 1/2 of the FANG trade, I had a request in the Idea Chamber for an update on the other half of the trade. My previous article covered Facebook (the F in FANG) and Alphabet (the G in FANG - only because it used to be called Google).
Today's article will focus on Amazon (the A in FANG) and Netflix (the N in FANG). Facebook's and Google's chart both looked bullish. Let's see if that trend continues while analyzing the A and N in FANG. So let's get started with this Amazon (AMZN) & Netflix (NFLX) stock chart review!
Amazon (AMZN) - Upside Price Targets
Amazon (AMZN) represents the "A" in the FANG acronym. My previous update for Amazon was at the beginning of March 2017. I recommend reading that article first to refresh the expectations that were developed in that article for AMZN's share price.
Ok, now that you're back from reading the previous Amazon (AMZN) article, its time to get an update on bullish scenarios #1 and #2. This 5 year monthly candlestick chart for AMZN with 3 different Fibonacci Extension Tools overlaid on it. The green tool is the shortest-term of the 3 tools.
With a long-term MACD Histogram that reflects an increase in buying momentum and decent buying volume over the last 3 months, …………..
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