Big Stocks Making Big Moves
Last week I wrote a post called This Breakout Could Take Stocks Even Higher where I explained that the combined chart of FAANMG was breaking out and these mega-cap tech stocks would drag the market higher.
Well, we are continuing to see even more stocks break out this week and some of the moves have been BIG.
Take a look at the breakouts that have occurred over the last few days in these household names.
NFLX +11% Higher Today
ROKU +11% Higher Today
FB +17% In The Last Five Sessions
GOOGL +9% In The Last Eight Sessions
Some people think technical analysis is a farce but all of the above breakouts came from price compressing in a well-established uptrend. When price compresses and coils like a spring, it builds up energy that will eventually need to be released. And in a bull market, the odds favor price expanding to the upside.
It pays to pay attention to these technical events and track them closely. That's exactly what we do in Profit From Trends Premium.