Four climbing FAANG stocks could be poised for an even sharper rally.

The frequently tied-together stocks of Facebook, Amazon, Apple, Netflix and Google parent Alphabet are outpacing the broader market for 2019, locking in double-digit gains for the year. Two market watchers see more runway ahead of some of the names.

"This week is very important," Mark Newton of Newton Advisors told CNBC's "Trading Nation" on Monday. All five FAANG stocks climbed higher this week as of Tuesday's close.

"We have seen a longer-term breakout of the FAANG group above a downtrend that's really kept this group intact since last summer," Newton said. "Many within the FAANG group have underperformed even though technology has been a decent performer, and now, that's starting to change."

The technical analyst noted that a recent uptick in investing volume for the group has driven bullish "breakouts" in shares of Alphabet, Facebook and Apple, which managed to break "above a pretty serious range" this week.

And while Newton sees further outperformance for Alphabet, Facebook and Apple, he said that, "potentially, we could see others like Amazon and Netflix follow suit. So I remain bullish on technology. I think, specifically within the group, that the FAANG stocks are actually more technically appealing now than they have been in recent months. So I do like them."

S&P Global's Erin Gibbs adopted a different strategy.

"I'm looking for the stocks that are actually growing earnings, that are making more money year over year and are fairly valued, and one of our favorites is Netflix," she said on "Trading Nation." "It's actually expected to have its profits grow above 50 percent this year. There are a lot of companies in this group, including Facebook and Apple, where profits are actually expected to contract, and they're still not trading at super-low valuations."

As such, Gibbs recommended staying away from names like Facebook and Apple, which could feel the heat of what many are calling an oncoming earnings recession.

"As investors are processing this slowing economy, I'd definitely avoid those stocks that look more vulnerable and potentially could have their valuations depressed even further and focus on the really strong winners that are able to consistently grow, beat and increase their margins," Gibbs said.

Disclosure: S&P Global holds shares of Apple, Netflix and Alphabet in advised portfolios.