Facebook, Inc. (NASDAQ:FB) Target $150

Facebook, Inc. (NASDAQ:FB) Target $150

Facebook, Inc. (NASDAQ:FB) Target $150

A look at the 30-month weekly chart shows how quickly Facebook stock price has retreated. Shares sank from almost $220 at its highs in July to sub-$125 last month. From peak to trough, we’re talking about a roughly 45% decline.

That’s a big-time beating for what was one of the market’s best-performing stocks over the last few years. After falling below the 200-week moving average in December, FB stock has regained this level. In fact, it’s pushing over downtrend resistance (purple line) as well as the 10-week moving average. That’s an encouraging sign for bulls and if the market can maintain momentum, FB stock could be ready to make a large move, perhaps back to the $150-ish level.

Overall, the bias in prices is: Downwards.

The projected upper bound is: 155.54.

The projected lower bound is: 132.65.

The projected closing price is: 144.10.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.

Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.

Momentum Indicators

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.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 95.0611. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 9 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 57.67. 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 buy 31 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 172.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 9 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 4 period(s) ago.

Rex Takasugi – TD Profile

FACEBOOK INC A closed up 1.700 at 144.230. Volume was 16% below average (neutral) and Bollinger Bands were 26% wider than normal.

Open High Low Close Volume___
142.950 144.700 141.270 144.230 22,205,880

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 136.32 139.92 167.76
Volatility: 59 53 49
Volume: 26,660,394 27,972,630 27,071,472

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.

Summary

FACEBOOK INC A is currently 14.0% below its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. 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 2 periods.

The following two tabs change content below.
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

You must be logged in to post comments :  
CONNECT WITH