Facebook is Down for the 5th Day in a Row

The Hourly View for Facebook

  • Currently, FB’s price is up $1 (0.3%) from the hour prior.
  • The hourly chart shows that Facebook has seen 2 straight up hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Facebook’s hourly price chart is shown below.

FB

The Daily View for Facebook

  • At the moment, FB’s price is down $-3.12 (-0.91%) from the day prior.
  • Facebook has seen its price go down 5 out of the past 5 days, thus creating some compelling opportunities for bears.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Facebook. Given that we see downtrend on the 5 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Below is a daily price chart of Facebook.

FB

Featured Facebook Idea From TradingView

Below is a trading comment entitled Facebook bear week? you may find interesting:

Five hits on the daily trend line and FB has now broken down below. Friday broke below the daily 20EMA. It’s more than likely to dump this week. Support levels 339.92337.98333.40

ReneeJax