The Hourly View for Facebook
- At the time of this writing, FB’s price is down $-0.07 (-0.02%) from the hour prior.
- This is a reversal of the price action on the previous hour, in which price moved up.
- If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
- Of note is that the 50 hour changed directions on FB; it is now pointing down. The moving averages on the hourly 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.
The Daily View for Facebook
- At the time of this writing, FB’s price is up $1.41 (0.37%) from the day prior.
- This is a reversal of the price action on the previous day, in which price moved down.
- If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
- 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 20 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 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.
- Divergence between FB’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in FB’s price.
Below is a daily price chart of Facebook.
Featured Facebook Idea From TradingView
Below is a trading comment entitled FACEBOOK – Long Position you may find interesting:
Facebook, Alphabet rise as Goldman Sachs starts each at BuyFacebook (NASDAQ:FB) is up 0.9% premarket, and Alphabet higher premarket (GOOG +0.6%, GOOGL +0.6%) following their initiations at Buy by Goldman Sachs.The firm …