Markets – Macro – Technicals

FB

This page tracks FB (Facebook) over time and different time frames. Updates, including different time frames and additional technical subsets will be notified via Twitter and Facebook.

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August 27, 2017

The $FB chart shown on July 27 (see below) suggested a coming reversal based on the spike across the weekly Bollinger Band. Since that chart has been posted $FB has experienced 4 weeks of down in a row. That is unusual for the stock and so far the downside has been moderate. Without new highs the stock continues to be at risk for a much more serious retrace, i.e. into the .618 fib:

August 20, 2017

$FB continues steady on its weekly up trend with the weekly 5 EMA holding as support. The price spike in July has proved to be a topping move for now. However as long as this support MA holds the stock looks to want to retest its upper trend line. A break below the MA opens the stock to a larger correction move toward the lower trend line and weekly 50MA which likely will provide very solid support on its first visit as the price zone also coincides with 2016 highs. Might be an interesting area for a long trade from there should such a corrective move evolve:

July 27, 2017

$FB has continued to rally into earnings last night. The subsequent reversal is consistent with previous moves above the weekly Bollinger band. The sell outside the weekly Bollinger band remains. Previous extensions have produced a retrace toward the middle Bollinger band at minimum and even moves toward the lower weekly Bollinger band. That target remains the .618 fib. The weekly middle BB coincides with the .382 fib:

July 20, 2017

Resistance? What resistance? Ever since Janet Yellen’s dovish speech tech has been on a non stop advance making new highs in the process. $FB being no exception. The spike above the week Bollinger band is now of note as past spikes of such nature have eventually produced larger declines. The stock has been on a steady uptrend, yet all recent new highs have come on negative divergences.

In keeping with the stock’s history any larger corrective activity in markets would target the .618 fib and lower weekly Bollinger bands. Prices above the weekly Bollinger band are a sell from our perspective.

July 12, 2017

$FB has again recaptured the 50MA and the 5EMA and has continued its pattern of resisting price movements outside the Bollinger bands. The most recent price advance produced a new all time closing high, yet price resides now just below the broken trend line from the December 2016 lows. With price being pressed against the upper Bollinger band, the December trend line, and the recent May high trend line, $FB is facing stiff resistance on any further price advances.

Failure to advance above these trend lines opens $FB to risk for a much larger technical retrace, including a potential move toward the 200MA which coincides with the lower weekly Bollinger band outlined on July 2.

For further charts please click the image below:

July 2, 2017

Markets love Facebook as it has been one of the primary drivers of the tech rally. The company performs well and has now reached over 2 billion active users which potentially highlights an impediment to future users growth.

$FB has recently printed new highs again, but like so many other charts, these new highs came on a negative divergence.

Since 2014 all corrective moves in Facebook have shown support near the weekly middle RSI and the lower weekly Bollinger band. Should the stock follow a similar pattern into the fall then the 132 price zone may become a target and support.

However, also of note, the larger advance since 2013 shows technical corrective risk into the .382 fib which coincides with the February 2016 lows near $105. Previous support would n the November 2016 lows.

For further charts please click the image below:

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