Detailed analysis on chart-- credit to DanV for the perspective
Since Nov 2013, when $FB got a pin bar reversal in a weekly chart, it rose at least 20% in 6 week time. Would it be the same this time?
Price has been trading within a bullish uptrend channel, from July 2013 to the present. The horizontal support levels within the channel are 45.00, 53.50 and 71.60. We note that Price has found support at 71.60 and is looking to trade higher. We also observe a somewhat fuzzy Elliott Wave Pattern forming, between May 2014 up till now. We project that the price is...
Shorted Facebook on the day of announcement knowing that the HFTs (High Frequency Trading bot) will pump it up high into the sky... (Same for Twitter) It is now approaching the support level at $71. Target = $85. If there are no major issue such as Ebola outbreak, Israel/Gaza war escalation, etc... This bull run should at least last for another 6 months to 2 years...
I would expect the high to be in the region of 112 if the uptrend continues and we break through the 2012 level of 100.72. The MT AutoFib Indicator and MTHorizontal Levels Indicator show levels of horizontal support and resistance in the current market structure. More details of the indicators used here are available from Chart > Indicators > MarketPlace > ...
Showing my prediction for the future price of FB based on previous behaviour, as outlined.
FB is not my favorite share. Fundamentally I do not understand its value. Totally not. Then the late IPO, tons of pre IPO VC investments, employees loaded with shares. A lot looking for profitable exits. So this should be a share, that could be hit hard when the tide will go. But maybe not yet. The patterns: the inner structure of the wave show a nice likelihood...
We have two trendlines intersecting with the D leg of a bearish bat. Also, we have a divergence in the making on the daily/4 hour. I would say $57-$63 would both be good short-medium term targets.
Current price presents a relatively low risk entry point to Facebook and a potentially high returns over the coming days. Will we finally break out of the green trend line that Facebook been trading on for the past 3 months? Stop loss: 63.83 Open: 66.97 Target: 82.32+
Interesting 60 min look here for the IBB.. after a several month run up (which looks like to be in itself a larger frame corrective B wave to a multi-year run up), price completed a beautiful proportionate AB=CD. However in order for this bounce to prove it's the next impulsive leg up instead of being a countertrend to the larger frame C downward continuation, it...