These days market is really unpredictable for the small movement (intraday) so pay attention to what you do.
We'll keep buying again from $95 area to our target since we see it as a strong possible uptrend to setted target.
DO: your homework, based on your account size/R/R/etc.
DON'T: Take our trades as advices to invest in the markets.
This is a monthly chart of FB. The last candle on this chart is the January candle. January is only half way over so this candle will change from here. This idea is based on the candle that exists on this chart. I have no way of knowing what the January candle will look like at the end of January 2016...
So you have owned some shares of FB for a while and you...
What will $FB do next? Each time $FB has entered a downtrending channel, it usually bounces off support at 46-49 days and falls 10-12% before the rebound. After today we are at 60 days and around 10% down from the high. I see two scenarios, it either drops to support at or around $97.50 (around earnings time) before bouncing, or possibly fall to the $90 range...
Short squeeze boom is done, entire market is in red except for the 4 king ' FANG ' stock. 'Facebook', 'Amazon', 'Netflix', 'Google'.
Low risk entry into shorting the S&P here, down into the lows of August/October.
Regardless of what Yellen says on December, it does not matter. The FED do not have control of the market, people are just focusing on the past.
No one...
Since my latest analysis, $TWTR rallied and reached the 30$ target zone (see linked idea).
Now, $TWTR is forming potential bull flag, just below the 32-33$ structure zone.
It looks like $TWTR is about to break out of both the structure zone and the trading channel (black dashed lines) towards the next target zone - 36-37$
The Fast and 50 SMA lines act as...
This oversold stock is trading inside a clear trading range for about a year: 2.8-.2.4 with bottoms near 2.2$
The Head & Shoulders pattern shown in the chart was triggered during August but the price ended up creating a False Break to the neck line (assumed to be the 2.4 support zone).
If that's a False Break, we may expect $ZNGA to breakout on the other...
Wave 4 has met a high probability reversal level at the confluence between a .382 retrace of wave 3 and the price zone of the previous degree fourth wave. Wave 1 time to completion provides a forecast for wave 5 completion time. Price range of wave 1 as an extension from current levels coincides with 1.272 extension of wave 3 and provides a target for fifth wave...
***No trading strategy is proposed here, I just wish to share a chart that I caught my eye today.
I don't follow individual stocks much on a daily basis, but I couldn't help noticing this multi-year resistance on FB. Technicals suggest that prices might establish a medium-term top below $90 (they may rise back up to test the resistance mind you).
I'm short $FB with $89 puts that expire in few weeks, $87.5 puts that expire in August and whole assortment of other FB puts. IMO this is like trading with inside information, the news is available, but hidden well in Facebooks last 10K filing in January 2015. FB says " We are being examined by the IRS" in that filing. They also say "We are unable to estimate...
FB has hit resistance at $83. Three times was not a charm for $FB as it could not close above $83. The daily stochastic indicates a sell today. My favorite indicator at present is the Aroon up, I use it to indicate tops in FB when it hit 100. It did hit 100 on Thursday and went lower on Friday. When it hits 0 in about 15 days, I expect FB to between $74 and $77....
Clear momentum weakness on this upswing as demonstrated by this 4/6H divergence on the MACD. Sell sign on the RMI.
If it does get another leg on it and I get stopped, I'll reshort higher.
Using Dow Theory, I see us being in a long accumulation phase of a bullish primary trend.
If we break the $86 resistance we could go into another bullish public participation phase.
If we drop below $78.4 we could see a bearish public participation phase.
Using purely Elliott wave counts, an observation is that we could be in the final leg up for facebook before a major pull back. This move up could be a truncated move, double top @ 86ish, 88, 92-96 i'd watch carefully beyond this point as it is the last leg if i'm looking at it correctly. Anything could happen with this leg up to complete the diagonal pattern. I'm...
Looking at the PA on FB we had a couple of attempts at breaking the 200MA. It has failed on both occasions and is being held at this support level at 77.40.
I am currently Long on FB and believe we are still bullish on this stock.
Price may head lower to previous support between 72 & 74, if it heads that low I will look to add to my long position.
FB appears to be consolidating in a small bear flag pattern after the double top neckline break. A few days of sideways action to consolidate inside the BB before breaking the 78 support would give me more confidence in taking the trade to the downside. With the double top's height it still hasn't reached its projected move of ~4.80 or ~76.
Entry: 77.98
Stop:...
