With the exception of any possible bad FA related stuff between now and tmrw or this corona trash... Thinking we could see some upward movement on FB up to moving out of the triangle. Coming out of oversold territory on RSI, MACD ready to turn green on hourly. Once confirmed I'll be looking at a PT of 215-217ish until a break out can be confirmed.
MACD hourly cross over 0 line has on multiple occasions crossed back over to positive and seen approximately $10 rallies.
(First hourly MACD flip to highest price during that run)
Jan 28 10:30 - Jan 29 15:30
Feb 03 12:30 - Feb 10 9:30
Feb 12 12:30 - Feb 20 9:30
I would anticipate the same here but still cautious of the down slope on the triangle forming.
MACD hourly cross over 0 line has on multiple occasions crossed back over to positive and seen approximately $10 rallies.
(First hourly MACD flip to highest price during that run)
Jan 28 10:30 - Jan 29 15:30
Feb 03 12:30 - Feb 10 9:30
Feb 12 12:30 - Feb 20 9:30
I would anticipate the same here but still cautious of the down slope on the triangle forming.
Comment:
Clearly not happening now with futures down 85 for S&P. Drop incoming