All those who question whether or not it is convenient to take positions in North American Big Tech, tell them that the upward movement that was born at the lows that the Nasdaq 100 marked in October last year from 10,440 points, which I consider to be the bottom of the downward trend that was born at the 2021 highs at 16,764 points, has only recovered 38.20% of the described decline, so the potential for growth in the coming months could still be significant.

Think that a 38.20% Fibonacci recovery from a drop is the minimum required on a rebound, but on many occasions the recovery is much higher, being 50 and even 61.80/66%. In the case of the Nasdaq 100 for it to recover half of the fall or two thirds of it, it must still rise by 10 and 15% respectivelyuntil reaching the area of ​​13,720 (maximum since last August) and 14,600 points.

Since at the end of January the Nasdaq 100 and the S&P 500 managed to break the bearish guidelines that had been guiding the falls of the maximums that marked in 20021 and 2022 to the millimeter, I have been insisting that the bias of trading on the US stock exchange must be bullish in pursuit of these objectives. For this hypothesis to be nullified, we must see the S&P 500 lose its support at 3,700/3,765 points, which for now remain standing.

In this context, where the downward focus is on other sectors, such as banking, I believe it is a good time to observe the behavior of FAANG, an acronym for the 5 most important technology companies: Facebook (Metaplatforms), Amazon, Apple, Netflix and Google (Alphabet).

Below, I will indicate the different levels to watch according to the technical analysis on FAANG, as I understand that the trial and setback these values ​​suffered months ago is an unbeatable opportunity to enter the trend that they develop in the long term. , which remains undisputedly optimistic.

Facebook (Metaplatforms)

The actions of Metaplatforms They have been experiencing a strong rise for months that served to recover 38.20% of the entire previous drop, which took the title from 385 to 88 dollarsafter reaching the zone 200 dollars. Given the strength of the value and the potential that still remains for the Nasdaq 100, I believe that in the coming weeks the Meta Platforms will be able to continue to rise in an attempt to recover half or even 2/3 of the described drop, something that would take shape if it reaches the 237 and the 270/284 dollarswhich are targets that are 20 and 40% away.

The recommendation is more of a wait than a buy, as the vertical rise prevents identifying a stop reference, not even an aggressive one, that would allow obtaining a good return/risk ratio.

amazon

E-commerce giant Amazon has arrived in the 81 dollarsthat seem to have been the bottom of the downtrend that was born in the 188 dollars in July 2021. The weakness shown in recent weeks is now one of the catalysts that could help the stock become an attractive call option.

Manage a stopover 80 dollars I understand that the Amazon is a value that can be bought, seeking that in the coming months it recovers at least 38.20% of the drop described, these levels of 122 dollars. If I opted to recover 61.80%, something I do not rule out at all, that would mean seeing the Amazon rise towards the 150 dollars.

manzana

The last time I recommended buying shares of manzana It was at the beginning of this year that the North American technology giant reached the base of the channel that has guided the consolidation phase in recent months to the millimeter. from the zone of 124 dollars the title managed to react perfectly to the rise and everything indicates that it is a matter of time before it ends up looking for the ceiling of this channel, which seems to be a classic bull continuity flag. He will not show any deterioration in his bullish odds as long as he does not miss the $143.70. There they have an aggressive stop in case they decide to buy in search of the ceiling of the channel that appears in the 170 dollarswhose break I do not rule out and would open the door to rises to historic highs at 185 dollars.

Netflix

After a sharp drop, which sent Netflix’s stock price down 77% from record highs in the $700 area to 160 dollarswhich was the tangency zone with its long-term bullish guideline, as I have repeatedly pointed out, the title formed a rebound that already served to recover the 38.20% Fibonacci of all that fall, after reaching the 375 dollars. After that it’s completely normal that he opted to consolidate positions and take a breather, after which I understand he might try to deploy another upward thrust towards the 430 and even the 500 dollars, whose coverage would mean an appreciation of 50 and 61.80% respectively. If a stop is assumed at the 235 dollarswhich I understand to be a support that you shouldn’t miss if you want to go up to the 430/500 dollarsYou can buy.

Google

the tech giant Googlewhich has always shone for its strength, has been laying the foundations for a bullish restructuring for months after arriving in the 80-85 dollars. Since then I never tire of repeating that the Alphabet is a call option looking for raises to at least 120-130 dollars. The stop is at 80 dollars.