I'm getting few messages asking me to comment on FB.... Here's what i see.
+FB is fundamentally strong. From longer term perspective, (weekly chart) FB, is still Very Bullish (above EMA20)
-However, FB will not be a good place to make quick money. Short term trend still up but BEAR is wondering around. Last Friday(9Aug), price action not able to break EMA50 and...
+Price bounce from EMA50 with strong bullish engulfing pattern at Stochastic Oversold.
+Buy on Dip Signal Appears with +ve Force Index.
=MACD is starting to turn upward.
Add Long position with with relatively low risk.
Further buy if breaks 173.5 level.
Stop Loss below EMA50
- Price decline after hitting 205 target
Based on Daily Chart...
- second sell signal appears on Facebook below EMA50.
- macd falls into bearish territory.
- Force index falls into -ve territory. However volume is not visibly significant.
TRADER to stay out for now... until price move back above EMA50.
Hit 176-178 fibo target with strong Volume.
EMAs arranged in bullish sequence and Force Index stay positive
MACD still bullish..
Need to break 178 to form higher high... Otherwise, BABA will move in range bound.
Hold the position.
Nicely bounce from key EMAs and Fibo ratio with good above average Volume.
Price Up, Volume Up is a nice bull run.
Stochastic oversold, +ve Force and price above last 2 high
Potential Target : 183, 194
Stop Loss : 160
Risk Reward Ratio 1:1 to 1:2
AMD close very strong at old high forming nice Cup and Handle Chart pattern..
Expect to break Resistance become new Support at 34.
Plan : Wait patiently to add position when 34 level become new support.
+Price moved above EMA20 andEMA50
+Price breaks above trend resistance with Relatively stronger Volume.
+MACD turned Bullish
=Bear Force still stronger but the strength is reducing
My Plan is to Long and Stop Loss at previous swing low.
Buy on Dip failed.
Price enter correction mode and testing 160 support.
Price might form ABCD formation / whipsaw..
Wait price to settle and look for reversal. Expect 160 to be a strong support. Next support area around 150
Place limit buy (with proper risk management) at next support level 150.
- FB fail to break double top resistance
- Formed bearish shooting star candle (www.investopedia.com)
Decision :- Wait to see what the next candle following a shooting star. May take profit if the price falls below shooting star candle.
Bearish news for Facebook... Bear is attacking (-ve force index)
However, significant buyer managed to push the bearish candle to form Hammer at support area (162- 164)
Overall, still above key moving average.
My plan is to monitor and reduce position or cut if below 160.
+ Daily and Weekly chart bounce nicely above key EMA
+ Price breaks flag pattern and bullish candle looks solid with small tail. Bull is quite decisive
+ Volume increase and stay above average in last 2 days
+ ATOM breaks and stay above upper level (Sign of rally)
Expect to test 172 level then 182.
Bullish reversal looks good.... accumulating.
+ Fundamentally strong with good Earning Report.
+ Formed Higher High and testing 152 resistance.
+ Price bounce and remain above EMA50.
+ EMA20 crosses above EMA50.
+ Another Buy signal appears on ATOM/Bollinger Band. BULL to not giving up testing the resistance.
+ Buying force has improved significantly.
+ Price breaking out from down trend channel, but it's not supported by volume and there's no higher low or higher high form so far.
+ Some sign of +ve Force index in last few weeks..
I would standby to go long if the price able to break next resistance area and retest (resistance turned support)...
AMD - Hits first target @ 19.00
Evening Star Doji Pattern (www.investopedia.com) potentially formed.
Price might pullback to test Resistance Turned Support at 17.40 level (~0.618 Fibo Retracement point 15.7 to 19.9)
Took profit.. Wait for pullback around 17.4 area and re-enter if there's sign of reversal.