CFDs are complex instruments. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money. CFDs are complex instruments. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

FANG+ index soars, as big names keep rallying

Major technology stocks have been huge winners since the March low, but there is currently no sign of much impending weakness in the index and its major constituents.

FANG+ index up 61% in 56 trading sessions

From the low at 2460 in late March, the FANG+ price has gained 61% in 56 trading sessions, after falling 37% in 21 trading days. The resilience of big-name tech stocks has been a key feature of the market rebound, as investors piled in to the sector as risk appetite recovered.

In one sense, this is perfectly sensible. The drop to the March lows wiped out the entire rally of the fourth quarter (Q4) of 2019, but represented the chance for investors to buy into good companies at more attractive prices than at any time in the previous five months.

Such second chances are rare in markets, and since the March low the price has not looked back. While we may see pullbacks along the way, the bounce from the lows is intact.

How have FANG stocks returned since sell-off?

Below we look at some of the major components of the index:


The Facebook price has finally cleared the zone around $220 that has marked the highs over the past two years. Steep rising trendline support from the March lows has remained in place over the past two months; a near-term pullback may see this trendline breached, but if support develops around $210 the overall bullish outlook remains in place.


Amazon was one of the big winners from the imposition of lockdowns, driving its stock higher from the March lows and through the February highs. While it has seen some weakness, the overall move higher continues, and with the price close to recent highs it looks like momentum continues to lie with the bulls.


Netflix too was a big winner of lockdown, as consumers returned to the streaming service in substantial numbers. Over the past six weeks, dips below $40.00 have been buying opportunities, or at least have stemmed any further downside, and the recent drop towards the rising 50-day simple moving average (SMA) has seen further support.

Google (Alphabet)

For Google (Alphabet), the steep uptrend from the March lows has eased, but as with the other stocks in the index there is as yet little sign of a real pullback. Indeed, the current drift higher/modest consolidation looks likely to resolve into another rally that takes us on towards the previous highs, while a drop back towards the 100-day SMA ($133) might provide another buying opportunity.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

Take a position on indices

Deal on the world’s major stock indices today.

  • Trade the lowest Wall Street spreads on the market
  • 1-point spread on the FTSE 100 and Germany 40
  • The only provider to offer 24-hour pricing

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.