Market closed all time in the thanks giving week. Market index spy closed at 260.36 which is .23% up from previous close. Market leader technology sector was also closed strong with all time high. Technology sector gained 4.8% this month.
FANG stock AMZN, FB closed strong. Even though tech leader Apple did not gain anything Friday, Apple gain more than 5 points or 2% last week.
Market is purely dominated by tech stock and mostly lead by FANG group.
Biotech sector did not show much movement in the last week. Major biotech ETF IBB was up less than 1% last week.
Financial sector was almost flat this week. Even though financial sector is down -.02% this month.
Best performer this week is conglomerates. Conglomerates is up 2.5% this week . Basic materials are second best performer, which is up 1.8%.
Amazon had a great thanks giving week. Stock was up 5.4% last week. Amazon gained almost 30 points or 2.58% in Friday only. Stock also closed all time high with big gain.
Stock is up more than 21% in last one month or from the last earning report. This massive gain make amazon super performer for this year than the rest of S&P 500 stocks.
Chart shows stock broke the last all time high at 1082 after the last month earning release.
After big move, stock pull back little bit and just come close last all time high again. After that AMZN stock price was flying to the new high every week.
Stock made a 2 week consolidation before broke out to the black Friday. Stock is up just more than 5% in one week. This makes the amazon founder not only richest person of the world, but also the first tech entrepreneur who has net worth $100 billion.
From the chart, we see that we should see some more bullish action this year. Al least we do not see any negative sentiment on amazon stock.
Facebook Inc( FB) :
Facebook is another top gainer stock in the last week. FB stock closed all time high after Friday strong bullish action.
FB is up 59 % this year.
This is another chart that really interesting to look at. Stock is moving side ways with little bit pull back from august.
As stock broke previous high because of top and bottom line earning beat, we saw stock was still struggling around $180.
However, FB broke this level in Friday successfully and stock also closed at 182.78, which is also al time high close by creating a long white candlestick. This candle is a good sign we will see upside movement for Fb stock in future.
Again stock was consolidating last 2 or 3 month, this also signal that stock has good upside after broke out.
This stock is definitely a stock to watch for momentum trader as well as for swing trader. This stock is also a very good hold for position trader in their portfolio.
AVGO is another chip making tech stock that also showed bullish sign . Stock closed in Friday very strong. Chart shows that stock is a good candidate for next move up.
AVGO already made some move from its entry point. Still stock has a lot of upside to move on.
Those who love the chip stocks should keep eye on this stock for short term bullish sharp move.
AMT is a top performing real estate REIT. Even though real estate REITS are loosing its value this year. There is blood shed in this sector. However, AMT is really exceptional among reit. While other REITs are loosing its value, AMT is up almost 50% this year.
Chart shows AMT just test previous high. Stock close on Friday with strong white candle shows stock may be a good candidate for upside move.
VRSN is another stock that made new high last week.
VRSN is kind of same like AVGO. Stock is already move from its ideal entry point. Still trader could try this stock after little pull back or based or based on price action only.
This stock is already up a lot from its base. Still this stock could be a good play for day trading.
Investors can enter this trade after a good pull back.NOTICE: This article was based on research of stock market information and other sources of information, found both online and in print media. Neither tradingninvestment.com nor any of its owners, contributors, officers, directors, consultants, or employees take responsibility for the accuracy of the information contained in this article or the accuracy of the information on which this article was based. tradingninvestment.com was not compensated by any of the companies mentioned in this article for the preparation of this material, nor were the materials approved by the companies which were mentioned.