FDN Internet Fang Stocks Extraordinary Rollover
has shown an extraordinary chart rollover in late 2018.
As the chart shows,
the massive selling of these type of stocks by large institutions
the prior market leaders, that they ALL had to own,
is just beginning the process of unwinding the excesses,
that will ultimately lead these FANG stocks
back to the base, wherever you deem that to be.
An overshoot to the downside,
would be the expected result here in FDN
as the laws of simple physics, as I often say,
will cause an exact counter direction move ..now to the downside.
If these type stocks have been holding the market up throughout 2016-2018
what does that say about the markets prospects,
if these stocks are now leading to the downside..?
FDN 123.81 Last
Point and Figure Analysis shows FDN to
have had a Double Bottom Breakdown Sell Signal just yesterday, on 11/20/18
Point and Figure Chart show FDN to be about as Bearish as you could imagine.
I would not touch this ETF from the long side if I were you,
but since you asked the question, buy points for FDN could be around 85,
or on a breakout above all time highs at 140.
Thank you, mishmish80
Thank you for your advice