Facebook Closed Yesterday Up 0.69%

The Daily View for Facebook

  • Currently, FB’s price is up $0.8 (0.27%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Facebook has now gone up 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.
  • The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Facebook’s hourly price chart is shown below.

FB

The Daily View for Facebook

  • At the moment, FB’s price is up $2.04 (0.69%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Facebook. Given that we see downtrend on the 10 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.

Below is a daily price chart of Facebook.

FB

Featured Facebook Idea From TradingView

Below is a trading comment entitled facebook–> ejnoy soup in cup and handle pattern you may find interesting:

FB recently had breakout from its long term resistance and now it is forming handle of the cup. I think best time is to wait for a breakout from the handle pattern which will be a good entry point . i fe…

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