Facebook (FB) Closes Last Hour Up $0.83; Moves Down For the 3rd Consecutive Day

The Hourly View for FB

Last Updated September 15, 2020, 23:9 GMT

Currently, FB’s price is up $7.94 (2.99%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50 and 100 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Facebook Inc Daily Price Recap

Facebook Inc came into today down 0.17% ($0.46) from the open of yesterday, marking the 3rd consecutive day a decline has happened. The change in price came along side change in volume that was up 26.34% from previous day, but down 0.31% from the Monday of last week. Let’s take a look at the daily price chart of Facebook Inc.

FB

Facebook Inc Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 16 out of the past 30 days.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to FB:

    KEY TO TRADING SUCCESS Tip: Do you want a system that produces close to 85% win rate? Most say that if you win 25-40%, you can be extremely profitable. To that I say, NOT FOR ME. I like to WIN and win a lot. To do that, you need to develop a system that uses risk mgmt instead of hard stops to take you out of a trade. With the SAG entry system, LOSSES ARE CONTROLLED WITH POSITION SIZING, NOT HARD STOPS! Stocks fluctuate around key pivots/levels so develop a system that puts the probabilities in your favor to take advantage of these price movements.

    RedBearKiss Public Swing Trading Portfolio created June 2020 is up 42.4% vs 11.7% SPY. Avg profit per trade over 264 closed trades (large sample size) is 5.5% over avg 5.4 days holding.

    All entry/exit trades posted on Stocktwits in real time and screenshot (all verifiable). All results (no hiding losers) reported back on
    https://redbearkiss.com

    Follow along for entertainment purposes only!
    $SPY $AAPL $TSLA $NFLX $FB

    RedBear