Facebook (FB) Closes Last Hour Down $-0.57; Moves Down For the 3rd Straight Day, in a Downtrend Over Past 14 Days

The Hourly View for FB

Last Updated September 18, 2020, 23:11 GMT

At the time of this writing, FB’s price is up $2.72 (1.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 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 0.9% ($2.29) from the open of the day prior, marking the 3rd straight day a decrease has occurred. The change in price came along side change in volume that was down 12.11% from previous day, but up 21.95% from the Thursday of last week. Below is a daily price chart of Facebook Inc.

FB

Facebook Inc Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to view things another way, note that out of the past 30 days Facebook Inc’s price has gone down 16 them.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about FB:

    Sometime in Aug, someone asked me if my strategy would hold up in a down market. I mentioned that it should outperform the market as I validated my system under all market conditions as long as you continue to find good setups and do it CONSISTENTLY without deviation and hesitation. Since I started this portfolio in June, we've gone through 2 drawdowns: one 8.1% in June and the current 8.4% now. Portfolio is up 44.3% or 5x the S&P return of 9.0%.

    Bottomline is to follow the process and not worry too much about market conditions as it is already reflected in the edge (as long as it was randomly validated), if that makes sense. If the casino has a drawdown because of a cluster of multiple jackpot winners, it just grinds away with their edge. As a trader, my job is to outperform the market, not outsmart it by timing when. If it is your setup, trade on!

    https://redbearkiss.com

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    RedBear