Facebook (FB) Closes Last Hour Up $0.99; Moves Down For the 4th Straight Day, in an Uptrend Over Past 90 Days, Pin Bar Pattern Appearing on Chart

The Hourly View for FB

Last Updated September 22, 2020, 00:010 GMT

At the time of this writing, FB’s price is down $-7.56 (-2.99%) 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. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 straight day a decrease has occurred. This move happened on lower volume, as yesterday’s volume was down 12.96% from the day before — and down 1.72% from the same day the week before. Let’s take a look at the daily price chart of Facebook Inc.

FB

Facebook Inc Technical Analysis

Notably, Facebook Inc is now close to its 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. 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. Or to view things another way, note that out of the past 30 days Facebook Inc’s price has gone down 17 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard Around the Web

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

    $MVIS Mark Zuckerberg's $FB totally won't try and utilize Microvision's tech in their headset that they're banking their entire future on. Nope! No way! /s

    It's not like Microvision hired a new director named Mark Spitzer who's an expert in this, who led the team at Google on Project X (Glass)… yep Microvision is totally over valued at $250M market cap… /s

    LOL

    GLTALs

    s2upid