Facebook (FB) Price Near $254.69; Moves Down For the 4th Day In A Row, in an Uptrend Over Past 90 Days, Price Base in Formation Over Past 30 Days

The Hourly View for FB

Last Updated September 22, 2020, 23:14 GMT

At the time of this writing, FB’s price is up $2.6 (1.05%) from the hour prior. FB has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. 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 closed the day prior down 1.73% ($4.38); this denotes the 4th day in a row it has gone down. This move happened on lower volume, as yesterday’s volume was down 12.73% from the day before — and down 1.46% from the same day the week before. Below is a daily price chart of Facebook Inc.

FB

Facebook Inc Technical Analysis

Coming into today the current price of Facebook Inc is sitting close to its 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 17 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard Around the Web

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

    $AMZN $AAPL $FB if you dont have 25k to day trade you are f'ed in this market. It was fun while it lasted, but retail is just predictable fish in a barrel to big money. The only way to win is to be unpredictable, and that means be nimble and don't hold positions overnight

    levy42088