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.
Analyzing a Long-Term Breakout in Progress for Facebook's Share Price
A probable $230 price target before year's end along with the possibility of a $…….
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