Facebook is Down for the 2nd Day in a Row

The Hourly View for Facebook

  • At the moment, FB’s price is down $-1.87 (-0.56%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved up.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Facebook’s hourly price chart is shown below.

FB

The Daily View for Facebook

  • At the time of this writing, FB’s price is down $-0.56 (-0.17%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Facebook has now gone down 4 of the past 5 days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 20 day timeframe.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between FB’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in FB’s price.

Below is a daily price chart of Facebook.

FB

Featured Facebook Idea From TradingView

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