Facebook FB Daily Time At Price Trend Analysis and Forecast

1000 17
Facebook             is detaching from a 7-day mode with today's action, marking today as day 1. The chart shows how the trends unfolded into the decline two weeks ago and how FB             held an important 17-day mode of support from the rally phase back in Jan-March.

It is interesting to note how a stock distributes and how it accumulates and how it shows on the graph. In this case, FB             failed to decline by the appropriate amount into the low recently, which means that there were ample buyers at that level standing ready to purchase shares and there were NOT enough sellers to drive it to that level. The market will always go to where the most orders will fill (from my observation of the markets over 31 years).

Keep in mind that 73-74 is also the equivalent level of SUPPLY for Facebook             where there are so many sellers that were standing ready to unload that the price never made it there. So, don't expect a new high to be greeted by a blast off, but rather expect another correction from a new high, if we get there.

For now, look for 7 days of rally with today being day 1. The price target is for reference. The stop is under the mode where the 7 is labeled.
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The price just at the price target! Great analysis!
Why did you changed your mind in the next research of FB?
What was the main reason which made you to change your opinion (price direction)?
Note that FB held the "massive support" box labeled from 55.50-54 on the pullback last week. What you can't see here is that it failed to rally beyond where the earnings were released. See my other chart on FB.
Well now, it went out "of the trend box" and down to touch the low range of the gap. i am yet to fully understand your method so maybe you can clarify what is the possible outcome when it leaves the planned target time and price range?
If FB fails to follow along the path of the Implied Accumulation, then the shares are not in strong hands, but rather the opposite - in weak hands. If FB can't rally, then it must fall and stop out all the longs that bought on the dip. Does that make sense to you?
Tim, i cannot avoid the fact that the price action up to now for today surprisingly (maybe not to you) bounced off the exact border of your projection. I thank you again for sharing your ideas and hope that more and more people will follow your trades.
+1 Reply
If I had taken the time to highlight the price action around the last earnings release, you would have seen that FB held at the mid-point of the range of the day of the last earnings release. It corresponded to an even better understanding of why the stock held at the level it did in the pullback this month.
Thanks to user "2use" for asking for an update on FB that encouraged me to update this chart.
2use timwest
Already 100 views =) All eyes on FB tomorrow
You seem to be reading my mind... First it was with TSLA and now FB ;) Yep, i'm looking at exiting around 68 region. May should be an interesting month for these mainstream stocks.
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