[F.A.N.G.] Quick Elliott Wave Look At FB AMZN NFLX GOOGL 1.07.16 – Mostly 5 Waves Down

FB – FB may have already formed the 5 full waves down and in order to break out it would need to take out at least 102.5 or 786 of the perceived 5th wave..it looks like it’s well on it’s way to that as soon as today.

AMZN – AMZN may have formed 5 full waves down but the breakout level at 786 would need to be taken out first at 640 or 786 of the entire 5th wave down..the reversal off the lows is strong enough and with momentum from NASDAQ it could happen in a day or two.

NFLX – Already broke out of a big zigzag and is well on it’s way to breaking upside 786 on a full breakout…one break of 123 would setup a clear uptrend in the stock and could be well on it’s way to breaking all time highs if the overall market bottoms today.

GOOGL – GOOGL appears to have 5 waves down complete as well and a 786 breakout of the 5 wave would break at 760, and it appears well on it’s way to do that as soon as today on the back of NASDAQ momentum.

Leave a Reply