When the stock market is in rally mode, strength is usually led lately by Jim Cramer's FANG stocks -- Facebook (FB) - Get Report , Amazon (AMZN) - Get Report , Netflix (NFLX) - Get Report and Google's Alphabet (GOOGL) - Get Report . Facebook and Alphabet are also both holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio.

All four FANG stocks are important components of the Nasdaq CompositeI:IXIC , which ended Wednesday down 2.8% year to date and 6.9% below its all-time high of 5,231.94, set on July 20. Since setting its 2016 low of 4,209.76 on Feb. 11, the Nasdaq is up a solid 16.4%. From the all-time high to the 2016 low, the Nasdaq stayed just out of bear market territory with a decline of 19.5%.

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The FANG stocks have had volatile rides from highs to lows, but since the lows, three of the four have outperformed the Nasdaq overall. They have provided important quarter-ending leadership.

Here's today's FANG scorecard. Then let's look at the individual charts and how to trade the stocks.

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Here's the daily chart for Amazon.


Courtesy of MetaStock Xenith

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Amazon closed Wednesday at $598.69, down 11.4% year to date and 26.3% above the Feb. 9 low of $474.00. The horizontal lines are the Fibonacci Retracements of the 31.9% decline from the all-time high of $696.44, set on Dec. 29, to the 2016 low.

Note how the 50-day and 200-day simple moving averages converged at $558.64 and $559.77, respectively, threatening the end of a "golden cross" formation, in which the 50-day is above the 200-day, indicating that higher prices lie ahead. This moving average convergence lines up with the 38.2% retracement of $558.91, making this area extremely important to hold on weakness.

Otherwise, Amazon is trading between its 50% retracement of $585.10 and its 61.8% retracement of $611.28, and well below a huge price gap lower from the Dec. 31 low of $675.89.

Investors looking to buy Amazon should consider doing so on weakness to $540.85, which is a key level on technical charts for all of 2016. Investors looking to reduce holdings should consider doing so on strength to $621.72, which is a key level on technical charts until the end of June.

Here's the daily chart for Facebook.


Courtesy of MetaStock Xenith

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Facebook closed Wednesday at $114.70, up 9.6% year to date and 28.3% above the Jan. 20 low of $89.37. This chart shows the importance of using weakness to the 200-day simple moving average as a buying opportunity, particularly when the stock is under the influence of a "golden cross," when the 50-day simple moving average is above the 200-day. This chart also shows the importance of keeping track of price gaps, as these are almost always filled.

The last opportunity to buy weakness to the 200-day SMA was on Jan. 20, when the average was $92.62.

Note that the price gap higher on Jan. 28 -- to an open of $107.20 from the high of $97.85 on Jan. 27 -- was filled at the low of $97.46 on Feb. 8 as a buying opportunity.

Wednesday's high of $116.99 was nearly a retest of the all-time high of $117.59, set on Feb. 2.

Investors looking to buy Facebook should consider buying weakness to $105.11, which is a key level on technical charts until the end of June. Investors looking to reduce holdings should consider selling strength to $128.36, which is a key level on technical charts until the end of June.

Here's the daily chart for Alphabet.


Courtesy of MetaStock Xenith

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Alphabet closed Wednesday at $768.34, down 1.2% year to date and 12.7% above the Feb. 8 low of $682.01.

Going back to July 9, this stock could have been bought at its 200-day simple moving average of $547.17. Then the price gap higher from the high of $604.50 on July 16 to the open of $680.00 was filled with the low of $593.09, set on Aug. 24, a buying opportunity. A second price gap higher -- from a high of $688.05 on Oct. 22 to the open of $750.06 on Oct. 23 - was eventually filled with a low of $687.78 on Jan. 20 as another buying opportunity.

The stock is above its 50-day and 200-day simple moving averages of $735.17 and $696.76. respectively

Investors looking to buy Alphabet should consider doing so on weakness to $756.13 and $724.90, which are key levels on technical charts until the end of June. Investors looking to reduce holdings should consider selling strength to $886.12, which is a key level on technical charts until the end of April.

Here's the daily chart for Netflix.


Courtesy of MetaStock Xenith

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Netflix closed Wednesday at $102.19, down 10.7% year to date and 27.8% above the Feb. 8 low of $79.95. The horizontal lines are the Fibonacci Retracements of the 40% decline from the all-time high of $133.27 set on Dec. 7 and the 2016 low.

Note how the 50-day simple moving average crossed below the 200-day simple moving average on Feb. 22 in a "death cross," which typically indicates that lower prices are ahead. It also implies that selling strength to the 200-day simple moving average is a prudent strategy. That average is $106.03, which lines up with the 50% retracement of $106.56 as a slightly higher sell level. Below is the 38.2% retracement of $92.45, and above is the 61.8% retracement of $112.87.

Investors looking to buy Netflix should consider doing so on weakness to $82.98, which is a key level on technical charts until the end of 2016. Investors looking to reduce holdings should consider selling strength to $110.13, which is a key level on technical charts until the end of June.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.