Initially I was bearish on what looked like a H&S pattern, but it took too long to go back up so now I think the big boys are re loading longs with their HFT algorithms. It looks like they have market orders in place to buy everything when price breaks below, then they stop buying when their buying forces prices up. They let prices drift back down so they can...
Bullish expansion on Bollinger Band,
VStop, MACD shows a buy signal.
MA Cross about to happen... and with the World Cups & increased social media usage, you really can't go wrong.
I'd put a price target of $70 and I would expect to see it in July.
--== UPDATE 7th July 2014 ==--
More or less it's continuing along the trendline that I drew. Looks to be on target...
Could Facebook stock drop to $50??? It might be too early to tell, but if price action doesn't make a new swing high above C leg, then this pattern may have high probably of completing. Bearish divergence on the RSI extending from July 13'. A GrandSuper Cycle wave 3 confirming the down trend which peaked at price $72.73. $FB is now showing signs of a bullish...
Facebook has been in my stocks to buy now video on youtube. This stock will continue to monetize it's list in the short term but long term may become harder as the younger set leaves Facebook for other tools like snapchat
Facebook (FB) in the morning went through previous high at $59.56 but than reversed and gave us tactical entry with Short option. That was point where you make adjustments and should react quickly as market stays in range-bound mode.
After it came from $20s to $70s and then was sold off to mid $50s it enetered into wedge/range and recent action became very...
Elliott Wave analysis suggests we are in a correction on Facebook, which should take us quite a bit lower before the rally continues.
A bear pennant pattern seems to be developing, with an Elliott wave interpretation there is a low risk/reward trade setup.
Let me know what you think..
I posted a case on the daily taking some liberty with the possibility of a symmetric triangle -- I determine a bullish case due to MACD/RSI/OBV suggesting a positive divergence with respect to price. In this case, I with a descending triangle, I see a channel that is forming in a possible uptrend with significant fib resistances.
Need to watch the market at levels identified. Only two ways to go - up or down! Also could keep going below 52 to 50.36 to 48 to 45.22 to 44 to 40 once the all important 54.46 level is broken.
$FB Elliot wave trade setup. Long over 64, short under 55.25. Short target #1 $52 Short target # 2 44.25. They had great ER, so could be great long setup over 64.
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...
![FB: Facebook [FB] in a good position to go up](https://s3.tradingview.com/x/XCz9CP0P_mid.png "Facebook [FB] in a good position to go up")
