Elliott Wave Plus
Daily Trend Report on the FANG+3 stocks for November 30, 2020
Scroll down to view today’s Trend Charts of the FANG+3 stocks (FB, AAPL, AMZN, NFLX, MSFT, GOOGL, & TSLA)
Elliott Wave Plus: The stock market was weak today. The Dow Jones Industrial Average closed down 271 points (0.91%), the S&P-500 was down 16 points (0.46%), the Nasdaq-100 (NDX) was up 10 points (0.08%), and the Russell 2000 was down 35 points (1.91%).
Within the FANG+3 group, only one of the seven stocks was up on the day (AAPL). Still, the most recent trend-following signal on all seven stocks in the group is a “buy”. Notably, TSLA appears to have been thrusting up out a multi-month Elliott Wave triangle, and made another all-time high today, but closed poorly. Today’s price action in TSLA could be interpreted as a daily bearish engulfing candle, a well-known potential reversal pattern. Here are today’s educational trend-following screenshots for the FANG+3 stocks:
(click on each screenshot to enlarge)
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