Facebook Does it Again: Heads Down for the 5th Straight Day

The Daily View for Facebook

  • At the moment, FB’s price is up $1.01 (0.33%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • 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 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

  • Currently, FB’s price is down $-4.32 (-1.39%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Facebook has now gone down 5 of the past 5 days.
  • As for the trend on the daily timeframe, we see the clearest trend 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 What Is a Bubble? you may find interesting:

A comparison between Apple, Microsoft, Amazon, Google, Facebook, and Tesla in the past decade.Top chart: last 10 yearsBottom chart: last trading year A bubble is an economic cycle that is characterized by the rapid escalation of market value, particularly in the price of assets. This fast inflation is followed by a quick decrease in value or a contraction, which is sometimes referred to as a “crash” or a “bubble burst.”Typically, a bubble is created by a surge in asset prices that is driven by exuberant market behavior. During a bubble, assets typically trade at a price, or within a price range, that greatly exceeds the asset’s intrinsic value (the price does not align with the fundamentals of the asset).The cause of bubbles is disputed by economists; some economists even disagree that bubbles occur at all (on the basis that asset prices frequently d…

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