Facebook (O:FB), Amazon (O:AMZN), Netflix (O:NFLX) and Google (O:GOOGL) where at the forefront of the presentation for Francis Hunt, The Market Sniper, when he joined Zak Mir, technical analyst for Zak’s Traders Café, and Mike Ingram, Strategist for BGC Partners, on the Tip TV Finance Show.
Key Points:
Volume and OBV gives you a heads-up before the move upwards, noted Hunt, as he praised Mir on the ARM call from last week.
He continued that if you take the ‘FANG’ stocks out of the US market, the result would be that the market is in fact flat or down on certain days.
Ingram contributed that people are buying growth stocks such as the ‘FANG’ group, instead of value stocks.
In terms of Amazon, Hunt outlined the gaps up as a suspected continuation of the upward trend for the stock.
Google has strong impulse upside gaps, commented Hunt, who also expected further upside.