Is Momentum Changing for Facebook? Price Just Crossed Above Its 20 Day Moving Average

The Daily View for Facebook

  • Currently, FB’s price is up $0.32 (0.11%) from the day prior.
  • This is the 2nd day in a row Facebook has seen its price head up.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Most noteworthy in the world of moving averages on the daily chart is that the 50 day moving average has been crossed, with price now being below it. The moving averages on the daily 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 $-0.47 (-0.16%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Facebook has now gone down 8 of the past 10 days.
  • Regarding the trend, note that the strongest trend exists 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 an uptrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 20 daily candle timeframe, so the meaning of the candles may require further exploration.
  • Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them with price now being below 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 XRP USD DAILY TECHNICALS (4/21/2021 you may find interesting:

GOOD MORNING- CRYPTO GER HERE FOR ANOTHER XRP UPDATE- TODAY IS WEDNESDAY APRIL 21, 2021.BEFORE WE GET INTO THE TECHNICALS AND ALL THE FUN STUFF- PLEASE KNOW THAT THIS IS NOT FINANCIAL ADVICE, THIS IS MY OPINION AND MY OPINION ONLY. I AM A DEGENERATE GAMBLER WHO LOVES TO DAY TRADE WITH AN UNNACPEPTABLE AMOUNT OF LEVERAGE. BASICALLY TAKE THIS AS ENTERTAINMENT FB GROUP- https://www.facebook.com/groups/410798420165701/YOUTUBE CHANNEL- https://www.youtube.com/channel/UCorNkVtFrIPvaKIFfN0kUtATWITTER @XRPGER

cryptoger