Facebook Just Breached This Major Moving Average Level

The Daily View for Facebook

  • Currently, FB’s price is down $-0.06 (-0.02%) from the day prior.
  • Facebook has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • 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.

Facebook’s hourly price chart is shown below.

FB

The Daily View for Facebook

  • At the moment, FB’s price is up $4.25 (1.41%) from the day prior.
  • The daily chart shows that Facebook has seen 2 straight up days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 20 day moving average has been crossed, so that price is now turning above it. 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 bullish ER runup plan you may find interesting:

NYSE:TWTR NYSE:PINS NASDAQ:FB Facebook is currently looking GREAT for a rally. It is currently bouncing off 200 EMA (very strong support), at .236 fib level (bounce region?), potentially breaking out of the bull flag pattern, 6 oscillator bullish divergence, AND Earnings on Wednesday? I smell GREAT chances …

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