Facebook for weeks now has been creating higher highs and higher lows in the strong uptrend. Being bullish on this stock we would look to get in with the bulls.
Lets look at the daily time frame.
Here we see a beautiful head and shoulders formation. Once it hits the neckline Price would reach around $98.
Adding confluence there is also a bullish cypher...
FB is coming near earning and last quarter FB declined going towards earnings and broke towards the upside after earnings. FB is reaching Technical short term resistance and RSI is over bought, thus I expect a temporary decline going towards earnings as it did last Q1 16". Thus far there is conflicting signals over the longer term direction.
If $TWTR's bullish momentum continues today, the bearish pattern will be violated and $TWTR will probably continue towards 20$ to meet its 200 days MA line.
Bears should focus on the pattern
Bulls target - 19.5-20$
Bears Target - 16-16.5$ and 15.5$ (final target zone)
*This is an example of a trading scenario that I sent to the Elite Zone members earlier this...
Facebook Inc - Long to 1.618 Extension
Facebook Inc has finished a corrective move on daily, now looking for a large impulse to the upside.
Currently waiting for a wave 2 pullback
An average of the FANG stocks tells an interesting story and serves nicely as a bellwether of market sentiment and investor's appetite for speculation. These stocks on average are trading very high price relative to forward earnings. Recent selling action suggest the market is beginning to doubt that these high flying stocks can live up to the expectations for...
Seeing a lot of lower supports being tested/broken around the market.
Lower lows and lower highs all over. It's really difficult to determine where the market could be heading, but I think this chart is a good indicator on what we can see going forward.
The monthly chart allows use to see the struggle that is truly presenting. Bulls are having a difficult time defending this price level and confirming 2012 resistance as support. We can also see that prices are trading above the long term trendline. A test of the "trendline" would violate the current 50% retracement and support additional distribution. This...
FB has been an exciting stock to trade. In April we saw signs of large profit taking confirming distribution into highs; however, bears were unable to break support. This allowed bulls to define prior resistance as support and suggest that bullish absorption of supply was present
The large buying volume that made new highs but became a failed rally is...
Facebook is walking a "fine line" and is at risk for a reasonable "pull-back" (up to 10%) as it appears to be in distribution. So far the bullish upswings have been unable to regain ground within the ascending channel and therefore are confirming prior support as resistance.
![AAPL: [montly chart] Risk remains for longs $SPY $QQQ](https://s3.tradingview.com/z/zpwpWA82_mid.png "[montly chart] Risk remains for longs $SPY $QQQ")
