FANG Stock Chart Patterns

This article will look at stock chart patterns for the infamous FANG group. Any FANG stock chart patterns identified will try to be extrapolated against other charts in the summary. Any consistency of patterns between the stocks will provide greater confidence in further pattern development for each individual stock.

Does the price and volume action look bullish or bearish? After all, I still have a bullish outlook on the NASDAQ Composite as I wrote about just recently:

“7/8/2018 – NASDAQ Composite Price Target Watch”

Based on my bullish NASDAQ outlook, I anticipate writing about FANG stocks that have mostly bullish charts. But rather than speculate, let’s dive into the charts and see what they say!

Facebook (FB)

The “F” in FANG is represented by Facebook, ticker symbol F. This chart for Facebook is a 10 year monthly candlestick chart that shows its continued breakout from its Trading Channel.

Back in November 2017 I “confirmed” my $209 price target for Facebook with this article:

“11/20/2017 – $209 Price Target for Facebook (FB) Confirmed”

Now that the price target has been reached, what is my new analysis? I placed a Fibonacci Extension Tool on Facebook’s breakout from its Trading Channel to estimate price targets for its uptrend.

A probable $230 price target before year’s end along with the possibility of a $[s2If !current_user_can(access_s2member_level1)]…….

If you want to continue reading this article about FANG stock chart patterns, you must first login.

I calculate new price targets and review old price targets for Facebook (FB), Amazon (AMZN), Netflix (NFLX) and Alphabet (GOOGL).

If you are not a Trendy Stock Charts member, consider joining today! There are several different subscription plans available.[/s2If][s2If current_user_can(access_s2member_level1)]281 price target in approximately 1 year. Reaching the $281 price target would be a 33% return for the year based on current prices. To me, the probability of reaching the Golden Ratio (the 161.8% Target Line) of its Trading Channel breakout seems good.

This is an area where I may actually consider selling some of my $25 and $27 shares. That will officially be a 10 bagger for me if I can pull it off.

Amazon (AMZN)

This next chart is a 5 year monthly candlestick chart for Amazon (AMZN), the “A” in FANG. Amazon reports earnings on Thursday July 26, 2018 after the market closes.

The black Fibonacci Extension Tool is overlaid on what appears to be a completed Bullish Impulse wave pattern. This first Bullish Impulse wave pattern developed from 2015 through the middle of 2017.

AMZN’s share price appears to be developing another Bullish Impulse wave pattern. The price target for this wave pattern is identified with the gray shaded box. The price target is sandwiched between 2 different Golden Ratios, or 161.8% Target Lines.

While the $2,200 – $2,500 price range may be the overall target for the current uptrend, I would not be surprised to see AMZN’s share price hang out around the blue 100% Target Line for a little bit.

In my previous article for AMZN “5/18/2018 – How High Can Amazon (AMZN) Go?” I made the following comment:

Shorter-term it looks like AMZN could still push up towards the $1,726 price level before consolidating like some of the below charts indicate.

AMZN pushed slightly higher than the $1,726 price level I mentioned. Is it time for a consolidation period like I though back in May? If by chance AMZN does pull back after earnings, the $1,600 price level is the support area to go long or repurchase shares.

But from a long-term perspective, AMZN’s share price should look to complete another Bullish Impulse wave pattern. It’s price target is in the $2,200 – $2,500 price range. Stay long AMZN and ride the Bullish Impulse wave pattern to new highs.

Netflix (NFLX)

The third chart is for Netflix (NFLX), the “N” in FANG. This is a 3 year weekly candlestick chart to look at the recent pullback that NFLX’s share price has suffered after its earnings report.

Any push below the $338.82 price level in the next 2-3 weeks is an indicator to look for NFLX’s share price to reach the bottom of the support level. That would also mean that there would probably be “ample” time to try and pick up shares around the $300 price level or slightly below.

But is NFLX can manage to stay above the $338.82 price level, it could see one more new high before entering into a probable consolidation period.

This chart sort of reminds me of the bank charts from last year. After a significant and extended run-up, it could be time for a longer consolidation period.

If a longer consolidation period is in the cards, the $275 price level is even a remote possibility. Notice the use of the word remote. But it is helpful to know where the absolute bottom of a support area is. The $275 price level would be the absolute bottom IMHO.

Monitor the $338.82 price level over the next week or two for insight as to NFLX’s next shorter-term move.

Alphabet (GOOGL)

The last chart is for Alphabet (GOOGL), the “G” in FANG. This made more sense before Google switched their name to Alphabet. But whatever, let’s start with an article I wrote about 1 year ago for GOOGL. This wasn’t my most recent update for Alphabet’s share price, but I did discuss 2 important price levels for it.

“7/25/2017 – Alphabet (GOOGL) Post-Earnings Analysis”

In that article I talk about the $1,189 price level as being the Golden Ratio for its current uptrend. GOOGL’s share price was at $969 in July 2017 at the time of that article.

You can see on this next 3 year weekly candlestick chart that GOOGL’s share price is currently lingering right around that $1,189 price target I set. GOOGL hit its $1,189 price target back in early February 2018 before a consolidation period set in.

Based on the Norther Doji candlestick pattern that developed this past week, GOOGL’s share price could start to pullback on Monday before its reports earnings. The next earnings report is currently scheduled for July 23, 2018 after the market closes (this Monday).

Since GOOGL’s long-term monthly chart still shows increasing buying momentum on the MACD Histogram, I would use any short-term sell-off to repurchase sold shares or to add to a current position. The gray shaded box represents one possible area to make that purchase. Any earnings sell-off may require a couple of week waiting period before the best possible repurchase price is reached.

But based on the increasing monthly MACD Histogram, I am not sure if a sell-off is in the cards for GOOGL. If it does though, don’t let one of the last opportunities to go long on the stock slip by.

FANG Stock Chart Patterns Summary

In summary, the FANG stock chart patterns mostly show bullish signs, except for the Netflix outcast. It’s share price is seeing a consolidation period as the other members of FANG are all making new highs. Could Netflix be a warning sign for other members of FANG? It doesn’t appear as most longer-term uptrends appear intact. And even NFLX could find support and rebound soon.

And since I did revise the NASDAQ Composite’s price target range upwards to the 8,294 price level, it only makes sense that most of the FANG stock chart patterns look bullish.

As the NASDAQ reaches the 8,294 price level, it will be extremely important time to check back up on price targets and patterns for individual stocks. Until at least that time, continue to enjoy the 2nd longest bull market in history. Hopefully we can turn this into the longest in history. 🙂

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