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FANGs Drive QQQ Higher

Published 12/13/2016, 01:49 PM
Updated 07/09/2023, 06:31 AM

With the exception of Facebook (NASDAQ:FB), the FANG stocks are in various, potentially positive juxtapositions above their 50- and 200-day EMAs.

Amazon.com (NASDAQ:AMZN), Netflix (NASDAQ:NFLX) and Alphabet (NASDAQ:GOOG) are all trading above their 50-day EMAs and are beginning to accelerate up and away from their 200-day EMAs -- both of which are very positive technical conditions that will help drive the PowerShares QQQ ETF (NASDAQ:QQQ) into higher all-time high territory projected next into the 124.00 area (120.92 last).

As for FB, a sustained climb above 122 will satisfy the positive conditions exhibited by the other three FANG members and will position FB for upside acceleration toward 127.00 next.

Facebook, Netflix, Google, Amazon.com

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