Facebook Came Into Today Down -0.18%

The Daily View for Facebook

  • At the moment, FB’s price is down $-0.29 (-0.1%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Facebook has now gone down 4 of the past 5 days.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Facebook. Given that we see an uptrend on the 5 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Facebook’s hourly price chart is shown below.

FB

The Daily View for Facebook

  • At the time of this writing, FB’s price is down $-0.55 (-0.18%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of Facebook.

FB

Featured Facebook Idea From TradingView

Below is a trading comment entitled i expect a big drop for this facebook bubble you may find interesting:

if you look at the alltime trend line of facebook you´ll see it allready recovered twice after a big bull run so watch out if you buy for position trading, maybe if you swing- or daytrade you will catch an other bull but rememter the bear is looking for a meal from behind the corner.

lstr123