Facebook, Inc. (NASDAQ:FB) stock is gaining renewed upside momentum
Investor fund flows relative to Facebook shares turned favorable for the stock into the turn of the year.
The power of Facebook’s business model should reassert the case for the growth stock and draw investors back in as the company reports its earnings results each quarter.
Facebook shares are compelling for purchase today and set for outperformance due to FB’s reasonable valuation on modest and likely understated growth expectations.
My 12-month price target of $221 presents investors today with a 32% upside opportunity at a comfortable margin of safety.
After taking some major heat both in terms of headlines and in its stock price in 2018, Facebook (NASDAQ:FB) so far in 2019 is higher by 29% already. Through the lens of near-term technical analysis, barring any major new headline bombs FB stock looks to have higher to go.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
The projected upper bound is: 184.69.
The projected lower bound is: 161.90.
The projected closing price is: 173.29.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 94.2116. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 11 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 68.97. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 18 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 226.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 8 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 0 period(s) ago.
Rex Takasugi – TD Profile
FACEBOOK INC A closed up 1.250 at 172.510. Volume was 12% below average (neutral) and Bollinger Bands were 44% narrower than normal.
Open High Low Close Volume___
172.900 173.570 171.270 172.510 21,531,724
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 164.84 152.82 165.82
Volatility: 27 50 49
Volume: 16,751,120 22,133,266 24,193,378
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FACEBOOK INC A is currently 4.0% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of FB.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on FB.O and have had this outlook for the last 1 periods.
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