2use
Long

Facebook [FB] in a good position to go up

NASDAQ:FB   FACEBOOK INC
Speculative view on Short term Facebook             stock trade. The current setup
- Most major point: ACC/DIST, RSI , DMI             , Stock , MACD - all set up to go higher being on low positions.
- Today trading price went above 100DMA
- Price within the weekly/monthly up-trend , but on the lowest end of the range
- Recent trend change coupled with wave prediction tells that the next wave should go up, and it may go to the previous wave top
- Apart from the wave formation the recent bottom points form a good reverse head and shoulders pattern - potential upside from here again at 68-70.

There is an earnings report coming up in 2 days, it can be the perfect catalyst to get the price higher and make the picture whole. price of 70 to the current 61 gives a 13% upside what is perfectly doable given the ER is good. 70 was the previous resistance then support. Reaching that point will give floor for the next run up

PS - This goes in line with the possible outcome of the markets having a new top in May and then falling back a bit.

*chart was drawn on top of one of Tim West's charts

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2use
2 years ago
And just after today's close Credit Suisse has upgraded Facebook (FB) to Outperform, and set an $87 PT, ahead of Wednesday's Q1 report.
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