Completely parabolic action today in the spy. 1) ran right into resistance on daily chart 2) fading volume of trend 3) RSI didn't register overbought when market made its last structure high 4) blow off top candle on 30 mn chart 5) lots of selling on level two The rectangle below is the profit target (2 gaps down there that need to be filled)
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 $90 range...
I have placed order for .10 limit of this bear spread on FB. Five trading days left, high probability, Everything confirms neutral.
FB is part of F.A.N.G. - FB AAPL NFLX GOOG. This is the nickname Wall Street gave for what they believe as the strongest stocks to come in 2016. These tech stocks with low exposure to the shit that was thrown on Wall Street will thrive in the new year and are hot buys. Heres the big move, dont hesitate. We broke out of a flag and are moving towards a breakout of...
FB is Overbought at these levels Short at: 106 Short Date: Dec 16 2015 Target Price: 90 Stop Loss: 110 Profit Potential: ~15% Timeframe: ~3 Months
If you're a day trader. Easier for someone who likes to swing.
Well defined triangle with a well defined breakout. Market sentiment at the moment is bearish, giving this trade another odds enhancer. Target 1 just below 96. Target 2 would be the support level around 86. Lets see
Two companies. Similar space. Diverging outcomes.
Short squeeze boom is done, entire market is in red except for the 4 king ' FANG ' stock. 'Facebook', 'Amazon', 'Netflix', 'Google'. Low risk entry into shorting the S&P here, down into the lows of August/October. Regardless of what Yellen says on December, it does not matter. The FED do not have control of the market, people are just focusing on the past. No one...
This oversold stock is trading inside a clear trading range for about a year: 2.8-.2.4 with bottoms near 2.2$ 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...
While the overall trend may be a little shaky, Apple is sitting at a serious support level at 113.16. We cover this in a little more detail on our website! Let us know what you think! Cheers, The Enhancing Capital Team
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).
FB is currently overbought and at the top of it's daily channel. The recent hourly chart is showing signs of Bearish Divergence. Expect a pull back prior to upcoming ER.