Investors are probably already familiar with FAANG stock, having seen how these five companies - Facebook, Amazon, Apple, Netflix, and Alphabet - led the Nasdaq Index to all-time highs over the past decade. The importance of these five tech companies cannot be exaggerated, and even through the pandemic, the FAANG five contributed to the tech index reaching new all-time highs.
Our Analysis:
As long as the price is above the 2765.00 level, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 2818.91
- Take Profit 1: 2920.00
- Take Profit 2: 3000.00
Alternative scenario:
If the level of 2765.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 2765.00
- Take Profit 1: 2680.00
- Take Profit 2: 2590.00
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