Market Matters Morning Report Monday 6th June 2016
How are the "FANGS" looking as US stocks power on? The American FANG stocks (Facebook, Amazon, Netflix and Google) have become household names and rewarded investors very nicely over recent years. However from late 2014, US stocks have consolidated their excellent gain since the GFC, the S&P500 is currently only 1.7% below its all-time high and the tech based NASDAQ is 5.1% below its 2015 high. The FANG stocks have been exceptional performers since 2012, showing respective gains between ~350 and 900%. We thought today was an opportune time to look at these 4 stocks which contribute both points and arguably more importantly, significant sentiment to any rally / decline for US stocks. If the broad US market is going to advance to fresh all-time highs this year, as we are predicting, then the FANG stocks are more than likely required to be strong and potentially leaders. We will look at them individually from a technical perspective as fundamentally they are tricky often trading on enormous valuations in anticipation of massive future earnings growth. The NASDAQ Index Monthly Chart
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