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FACEBOOK- Bullish Momentum to 91.80!
Daily Analysis and Trading Recommendations for the short- term investors on FC.
The daily trend according to the daily time frame is in an Uptrend technically indicated by following:
• Dow pattern- higher bottoms and higher tops- B1,T1,B2,T2
• Price is currently trading above the Uptrend-line.
The uptrend is confirmed by the bullish cross of MA10 above MA20.
Prices are trading above the support level 85.93(support 2).
Therefore, I will recommend LONG POSITIONS for the no position holders on FACEBOOK. Take profit at 91.81(R1) the 161.8% Fib extension level. Stop loss should be a bit below the support level-S2, thus the stop loss is at 84.00.
For LONG-holders I will recommend to HOLD their long positions and adopt the same stop loss and take profit orders as mentioned above.
The daily trend according to the daily time frame is in an Uptrend technically indicated by following:
• Dow pattern- higher bottoms and higher tops- B1,T1,B2,T2
• Price is currently trading above the Uptrend-line.
The uptrend is confirmed by the bullish cross of MA10 above MA20.
Prices are trading above the support level 85.93(support 2).
Therefore, I will recommend LONG POSITIONS for the no position holders on FACEBOOK. Take profit at 91.81(R1) the 161.8% Fib extension level. Stop loss should be a bit below the support level-S2, thus the stop loss is at 84.00.
For LONG-holders I will recommend to HOLD their long positions and adopt the same stop loss and take profit orders as mentioned above.
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