$FB earnings out tonight which seemed to be a nonevent. Sitting in a relatively steep channel. Not much else to say, tomorrow should see an accelerated thrust higher or a breakdown to test the gap, time will tell.
Third attempt to reverse. The last one on high volume at the channel support. We should be able to get at least a second leg up. R/R = 2:1 with target at the upper channel line a bit above AB=CD
Update Apr. 4th: I will take profits now (a bit earlier) at the upper channel line (white) !
At 1, the RSI(7) was falling and a consolidation pattern broke to the downside. At 2 the RSI was rising and forming a positive divergence, the tall green candle was the confirmed long signal.The trend continued up and a consolidation continuation pattern formed at point 3 and price stayed above the 10MA. At 4, the RSI was overbought and formed a negative...
Currently FB is bearish, below 10 & 50MA and TRIX below mid-point.There was plenty warning of a top when FB had a double breakout failure and negative divergence near clone resistance.I consider DIVERGENCES early warning signs of tops & bottoms especially on monthly charts.With FB we also had a DOUBLE negative divergence, extra warning of a top.
IF trend continues...
I don't think Cramer will get his $23 FB.
Cramer discussed 4 charts, and he thinks these 4 stocks, which form the acronym FANGs, are the new tech stocks to watch. Facebook (FB) has a ceiling of resistance at $32, and if it pulls back to $23, Cramer would buy, since FB is showing a bullish cup and handle formation. Amazon (AMZN) has roared out 10% from its head...
I think we test but hold the 50% retracement at 23.86.
I may try a long at 24 with a stop below the 61.8%
retracement at 22.49. Target would be set at 28. Just a
possible play I will be watching. I love opinions and feedback.
Facebook has travelled really far really fast. Expect a sharp pullback which could be a good buying opportunity if you missed this rally. Also have strong volume as confirmation the breakout is real...
A red candle at resistance and a close back in reference channel. Watch for price to correct to top of reference channel 2.
If resistance is broken, near term target is the top of clone 1.
FB approaching very significant resistance. Second last day is (near) dark cloud cover. First high breaks through BB, second high barely does, even though at same level. Bearish divergence with Money Flow. Volume also decreasing.
Heavily shorted and misunderstood. Reminds me of another stock a decade ago, Amazon. Like Amazon, 'the book selling company on the internet', Facebook is defying all odds and share price keeps rising. We do not have much stock price history with FB. What we do have is information. Facebook usertime has stayed steady. This is contrary to the fad claims. Users are...
BLUE COUNT
My overall view of FB, I am short term bullish, long term bearish. There is a clear 5 wave move down from 33.5, and I believe the recent rally from its' all time low can be counted best as a 5-wave a wave. This recent pullback can be called the B-wave due to its nice fibonacci relationship of a .618 retrace of the a-wave. If it were to rally from...
The EFI is a VOLUME & PRICE based oscillator, it's a good indicator for spotting buying and selling pressure.The look back period will vary depending on how active the security is, the setting is usually set between 3 to 21.Near term target $23.23
