FANG Index Is Rising Within A Bullish Impulse
Jun 8, 2023

FANG

FANG index is rising within a bullish impulse, as we see it trading by impulsive price action from Elliott wave perspective.

NYSE FANG+ Index consists of 10 of highly-traded tech giants. These are Meta(Facebook), Apple, Amazon, Netflix, Microsoft, Google, Tesla, Nvidia, Snowflake and AMD. Due to recent strong technology sector, FANG Index is trading impulsively higher, ideally within a five-wave bullish impulse, where we barely see it trading in the middle of wave 3. So, there can be easily room for more gains, we just have to be aware of 4th wave pullbacks. Strong technology sector could also lift up other weaker stocks, mid caps and low caps, which are usually follow the strongest high cap stocks.

FANG Index Is Rising Within A Bullish Impulse 4h chart
FANG Index 4H Chart

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