The Dow Jones industrial average, S&P 500 index and Nasdaq composite retreated Tuesday as President Donald Trump stepped up China trade war threats. Apple (AAPL) and Facebook (FB) fell back into buy range Tuesday, but found key support. Google parent Alphabet (GOOGL) stock held in a buy zone. Fellow FANG+ stocks Amazon (AMZN) and Netflix (NFLX) hit new highs.
Apple, a Dow Jones component, fell 1.6% to 185.39 in Tuesday’s stock market trading. That pulled Apple stock back into a buy zone. The 179.04 double-bottom buy point has a 5% chase zone that runs to 187.99.
Apple stock did show some resilience, much like the Nasdaq composite. Shares rebounded from an intraday low of 183.45, just above their 50-day and 10-week moving averages.
Facebook stock sank as low as 193.79, but closed down just 0.4% at 197.49. That was just enough for Facebook to move back within a 5% chase zone from a 188.42 entry. Facebook also closed above the high of the left side of the consolidation.
Google parent Alphabet fell to 1,161.61 intraday, nearly undercutting the 1,161.20 buy point cleared on Monday from a handle in a double-bottom base. But Google stock rebounded to close down just 0.4% at 1,178.49. That was also just above an alternative entry from the middle of the “W.”
Netflix stock soared 3.7% to 404.98 on Tuesday, crossing the 400 level for the first time. Several analysts raised Netflix stock price targets. Netflix has been a huge winner in 2018, vaulting 111%.
Amazon stock also has been a 2018 standout, soaring 48%. On Tuesday, the online seller rose 0.6% to 1,734.78.
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