Short Term Elliott Wave view in Facebook suggests the rally from August 3, 2021 low is unfolding as a 5 waves impulse structure. Up from August 3 low, wave 1 ended at 365.77 and pullback in wave 2 ended at 350.20. The stock has resumed higher in wave 3 towards 384.33. The internal of wave 3 unfolded as 5 waves in lesser degree. Wave ((i)) ended at 370.86 and...
Looking at the price pattern of the biggest companies in the market (AAPL, MSFT, GOOG, AMZN, FB, TSLA) and the major indexes (S&P500 and NASDAQ 100) clearly shows Bulls and Bears power is reaching a new equilibrium.
after a Bullish rally that pushes prices higher in August 2021, we see multiple candles with small bodies(Doji) in the charts and prices went...
The Fangs, which have led the Tech rally, narrowing breadth and
creating a large chase... are in a SELL.
There was a sizeable PUT purchase @ the 330 Level, an Entity
has hedged their Book.
Former leaders are now leading the decline.
Warning signs are building...
Short-term Elliott wave view in Facebook (FB) suggests that the cycle from 03 August 2021 low is unfolding as a 5 waves Elliott Wave Impulse. The structure remains incomplete favoring more upside extension. Up from that low, the pair has ended the first leg in wave 1 at 365.78 high. Then wave 2 pullback ended as a irregular flat structure at 350.00 low and the...
Entry price: 369-375$
Target price: 408$
Stop loss: 365-369$
Keltner Channel: the price is inside of the channel, approaching the upper boundary.
Chart pattern: symmetrical triangle
DMI: +DI line crossed -DI line from the below. Moreover, the intersection moment appeared above the ADX line what might suggest the bullish momentum of the price.
Conclusions: The...
The majority of people have heard of the social network Facebook; with 1.9 billion daily active users, nearly one in four people in the world uses Facebook daily.
The company's stock has risen sharply this year, surging 33 percent over the year. This far surpasses the S&P 500's 19 percent rise over the same period.
There is, of course, a good reason for...
Trend Analysis
The main view of this trade idea is on the 4-Hour Chart. The index FANG (FNG1!) has been in a rangebound price movement after hitting resistance around the 7400 price level in mid February 2021. FANG held support at 6050 and made a second attempt to break above 7400 in mid July. After that failure the index quickly found some support around 6800...
Although the Facebook stock is up nearly 33% for the year, some analysts are concerned about the company's prospects. The stock's rise declined after the company released its second-quarter results in late July, as investors were concerned about a slight decline in daily active users in the U.S. and Canada, as well as earnings projections.
Nevertheless, the...
Back at it with another setup, please follow and like if you guys want more. Here is my analysis.
Bullish Sentiment: Bounce from 34-50 EMA we could see a test back into 360's followed by consolidation and the new ATH's. RSI hitting below 50 again, not much to go off of this but I see a bit lower. I do see this touching the lower cloud around the 348 range....
