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Tech Stock Jackpot: These 4 Giants Just Moved Into Buy Range
The Nasdaq just surged to a new all-time high with four tech giants moving into buy range: Amazon.com (AMZN), Apple(AAPL), Facebook (FB) and Google parent Alphabet (GOOGL).
Amazon
Amazon, with a 13% gain to 1,100.95 Friday in massive volume on blowout earnings and strong revenue growth, has cleared a 1,083.41 buy point from a base that the stock has been forming for three months. The move puts Amazon, a member of Leaderboard, at a new high and above the 1,100 price level.
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Alphabet
Alphabet also hit a new high Friday on the heels of its earnings results, rising 4.3% to 1,033.67. The stock is now back in buy range from a flat-base entry of 1,006.29 that was initially cleared on Oct. 12.
Apple
Apple and Facebook are set to issue their results in the coming days. Apple climbed 3.6% to 163.05 in heavy volume Friday, retaking the 50-day line and clearing a cup-with-handle buy point at 160.97, amid reported strong preorders for the iPhone X. If Apple's Nov. 2 earnings report impresses, the stock could pass its prior high of 164.94 set on Sept. 1.
Facebook has been added to Leaderboard as an option play ahead of its Nov. 1 earnings. Shares rose 4.3% to a new high of 177.88 Friday, retaking a 175.59 entry point in strong volume. Alphabet's strong mobile ad revenue likely cheered Facebook investors.
Facebook and Alphabet are among the tech companies testifying on Nov. 1 before Congress about fake news and Russian advertisements during the U.S. election.
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