(Last Updated September 21, 2020)
Hello! This is the news page for Facebook Inc. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
As for trends on FB, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
Nuances in the trend on FB can be understood by observing the behavior of its moving averages. Of the 20, 50, 100, and 200 day averages — three of them (all but the 20) — are bullish, implying a upward trend, save for a fall that occurred about 3 weeks ago.
The chart below illustrates.
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.
This move happened on lower volume, as yesterday’s volume was down 12.96% from the day before — and down 1.72% from the same day the week before.
I mentioned that it should outperform the market as i validated my system under all market conditions as long as you continue to find good setups and do it consistently without deviation and hesitation.
Seeing the strength, verifying the stochastics and rationalizing the fundamentals, i bought shares at $1848.
It’s been a feast for bears operating on an hourly timeframe, as fb has now gone down 8 of the past 10 hours.
This move is a reversal from the hour prior, which saw price move down.
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
The price move occurred on stronger volume; specifically, yesterday’s volume was up 10.37% from the day prior, and up 44.18% from the same day the week before.
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
Mention just a couple days ago raise those stops, sure enough the flushed out the week hands!