Facebook Inc (FB) Heads Up For the 2nd Day In A Row, Breaks Above 50 Day Average; in a Downtrend Over Past 14 Days

Facebook Inc Daily Price Recap

Facebook Inc is up 0.52% ($1.21) since the day prior, marking the 2nd day in a row an increase has occurred. The price move occurred on volume that was up 37.54% from the day prior, but down 4.32% 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 crossed above its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to buy dips. 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 up 21 them.

Overheard Around the Web

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

    $ONVO [Top 10 worst trades of all time]
    So…I was 3D un-printing (deleting) some old old old email, and I decided I had to share this one from 2012. I still lose sleep almost ten years later after selling $FB IPO to buy 3D stuff.
    Man did I make a killing at the time, but man did I also spend it all at the time because I was in my early 20s. ; )
    I (still have) never used Facebook and thought social media wasn't as strong of a trend.
    Funny how wrong I was.
    Not funny.
    Fuck you, past me. You're killing us!

    iBio_T