plunged today after media rumours surfaced about President Trump's intentions towards its taxation, as shown on the following daily chart
A hold below near-term resistance of a 50%
Fibonacci retracement level at 1441.74
could see a retest of 1400.25
Fib retracement), or lower. The dramatic plunge on the momentum indicator
signals further volatility and wild price swings ahead for this stock.
The following daily charts
of the FAANGs
shows that, during the past one-year period, FB
has dropped the most, followed by GOOGL
(further details on FB
and their data-mining activities/woes can be found here
All five stocks have experienced huge price swings and are currently well off their highs on accelerating (to the downside) rate-of-change (ROC). The ROC decline to a new one-year low on AMZN is notable after today's price plunge. If GOOGL and AAPL's ROC indicator make a new swing low on further price decline, all five stocks may drop further. NFLX's ROC has already made a new swing low.
Either way, all of these stocks are in for further wild price swings.
|President's Tweet March 29|