This FANG Stock Just Tripped A Very Bearish Signal

By | February 3, 2016

Scalper1 News

alt : http://feedproxy.google.com/~r/InternetTechnologyRss/~5/A8_SqYEuI4U/Tech_020316_FANG_AMZN_NFLX_FB_GOOGL_sd.mp4http://feedproxy.google.com/~r/InternetTechnologyRss/~5/A8_SqYEuI4U/Tech_020316_FANG_AMZN_NFLX_FB_GOOGL_sd.mp4 Loading the player… FANG stocks Facebook ( FB ), Amazon ( AMZN ), Netflix ( NFLX ) and Google parent Alphabet ( GOOGL ) are all falling in heaving volume in the stock market today . Amazon is now tripping a bearish signal, shortly after the e-commerce giant’s quarterly report missed analyst expectations. Wall Street’s disappointment comes even as Amazon has continued to make outsized market share gains, posting a new record for annual sales and its largest profit in at least four years. But shares closed down 3.8% in heavy volume on Wednesday, dropping below the critical 200-day line in intraday trade for the first time in about a year. The stock has pared some of its losses, but unless Amazon can close the session above the line, that’s a bearish signal. It’s now more than 20% below its high reached in December. Fellow FANG stock Netflix has been trading below its 200-day line for several weeks now. On Wednesday, the stock finished 0.8% lower. After reversing lower from a new high in Tuesday’s session, Facebook is falling for a second day in big volume, threatening to round-trip from its recent breakout. Shares ended Wednesday down 1.7%. Google parent Alphabet fell 4% in heavy turnover and undercut the 50-day line after retaking that level last Friday. It’s now 7.5% below its intraday high reached in Tuesday’s session after the Alphabet’s strong Monday night earnings report. Scalper1 News

Scalper1 News

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