FB, FAANG and Big Tech Stocks: Weakening Technicals
Facebook, FAANG stocks and other big tech stocks too were bound to have a rough day with gaps down and runs down as NVDA reported lower than expected earnings after the close yesterday. NVDA had a massive gap down today. FB had a small gap down at open. Volume Oscillators reveal an increasingly weakening price trend when below the center line, indicating the sell side is dominant. The stock could easily break down and move down further.
Martha Stokes, CMT
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