This is an important level because this is when Janet Yellen spoke on June 18. So look for any absorption pins off this level to go long. Very strong support level.
Quotes from my StockTwits:
"In all fairness $FB has only gone up about 5% since its ER that beat estimates by nearly 40%. stks.co
"It's rare for a growing tech stock to have a low PE ratio but $FB seems to be an exception. I believe it's already worth 100."
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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.
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")
