More FANG Stocks: Baidu, Twitter, Tesla And Alibaba
In the last posting, there was an August forecast for the best-known FANG stocks. Here is an August-September projection for the second round of FANG stocks.
Baidu spiked on its recent buy signal. Five of six buy and sell signals in the last year have been profitable. The cycles point to an uptrend into mid-September. The stock is likely to retrace at least 50% of its last decline to $250.
Twitter is in an uptrend and is likely to remain in that mode until September 13th at which point, the stock will likely be in the 38 area. In the past year, all four buy signals but only two of four sell signals have been accurate. Thus, the cycle has been much more useful detecting lows that it has been at pinpointing highs.
Tesla shares are currently in an uptrend. The stock is likely to have a strong August; the next sell signal is in the first week of September. In the last twelve months, all seven buy signals have been profitable while five of six sells have been so. The share price is likely to move back to the old high at $370 and beyond.
Alibaba is currently in an uptrend with a sell signal pending late in this month. Over the last year, all of the 13 buy and sell signals have been profitable. A rally to the high $190 area is projected.