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.

For access to other charts please visit Charts. For latest public market views please visit Market Analysis.

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All content is provided as information only and should not be taken as investment or trading advice. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise. For further details please refer to the disclaimer.


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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