FANG Stocks: What's Next for These Market Leaders?

 | Mar 15, 2017 | 1:46 PM EDT
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FANG is Jim Cramer's acronym for Facebook (FB) , Amazon (AMZN) , Netflix (NFLX) and Alphabet (GOOGL)  (aka Google). These four stocks have had amazing staying power in this historic bull market, and have rewarded the patient investor many times over. With some market observers worried about valuations or the market being "overbought," this is an appropriate time to look at the longer-term Point and Figure charts of these stocks.

(See here for Jim Cramer's take on the FANG stocks)

In this Point and Figure chart of FB, above, we have changed from the so-call traditional scaling or charting method of round-dollar increments to a percentage change. This approach was started, I believe, by the firm of Delafield Harvey Tabell back in the 1980s. This chart shows a sideways consolidation and a recent fresh upside breakout at $136.63. The potential upside price objective, or target, measures to $175. I honestly have no idea what fundamental analysts look for but this is my chart forecast.

In this Point and Figure chart of AMZN, above, we have used the percentage approach again. You can see a fresh breakout at $852.48 and the upside price target of $1015. Yes, $1015.

In this Point and Figure chart of NFLX we used a dynamic scaling method that uses the Average True Range (ATR), a little bit differently. There is not a price objective here, but you can see a breakout at $134.96 and the consolidation pattern could support a substantial upside move, in my opinion.

In this Point and Figure chart of GOOGL, above, we can see that a trade at $869.61 will be another upside breakout and give us a possible upside price target of $951.

Bottom line: The market is in a bull phase and not done yet. People on the sidelines, people under invested and people overseas will all be sucked in by higher and higher prices. Consider these price targets for FANG a roadmap for the next several months.

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