FB back to 230? or Ripping to 260 Up first we got FB. FB calls from 250 were in the money today. If you were able to join me in the 350c 7/17 you should,ve made at least a 250 return. Although we were ITM, FB found resistance at 249. As of right now that is the 4th time FB tried breaking out. Volume is slowing down so we could see some pullback into this week unless some news breaks. Be aware though that FB sold off at close due to the covid news much like everything else. Furthest I see a drop is 230. Anything past then then we are seeing 216. We’ll see what tomorrow brings. It was bullish based off the IHS pattern. I have a 230 put, will hold and see where it goes. last price target was 250 :)
Facebook ScenariosIt can be seen that there are two bearish scenarios in play with a rising wedge that may breakdown
Also an inverse H&S that is yet to complete its right shoulder
However a bull flag has also formed
2 Bearish
1 Bullish
Bearish move seems logical.
Techno Stocks or Cryptocurrency e.g. Bitcoin is the question Since 2018 the technology stocks, in this case NASDAQ are performing better than cryptocurrencies in this case bitcoin. One need to pay more bitcoin to buy techno stocks.
Seems the markets are now almost equivalent and if one will crush then other too.
facebook analysis in 15min (SELL SIGNAL)the facebook will go down to test the blue line after that will go up
facebook analysis in 15min (BUY SIGNAL)we will have short postion after that the chart will go up agine
FB wave (5) completion Overextended Rally FB wave (5) rally in progress with more push higher towards $256 to then complete wave (5). We are looking for wave (5) to fail into 256 resistance setting up for a corrective wave lower back into the low 200s.
260$FB closed at 240.86. Hit my price target. Unfortunately I sold yesterday like a beta but its okay, profit is profit. I have a put on this. It got rejected at the resistance line again. Although it hit ATH it was unable to hold. Had a little sell of at closed. Looking for this to bounce at the 0 line where the line ends. Tomorrow FB releases the audit i think for the ads and everything. Their meeting was today and Zuck man is holding strong. Tomorrow should determine where the stock is going next. New price target is 260. If it bounces at any lines above 0 and holds then thats a signal to buy. Red day tomorrow (July 8) or Thursday (July 9). Looking like Thurs though.
$FB Looking To Bounce Off of .618 Supply Zone (Cup and Handle)Confluence:
1. Well Respected .618 Fib Retracement Level
2. Strong Support Level at 232.75
3. Cup and Handle Pattern Forming
4. Strong Candle Bounce Off of .618 Fib Level
5. $ES Futures Looking Very Bullish On 1H & 4H timeframe.
Facebook possible higher low brings opportunity for buyersFacebook making a higher low on the formed uptrend channel
Bullish Charts - Golden Cross, Facebook Shuts Down HobbiPinterest, Inc. provides visual discovery engine in the United States and internationally. The company's engine allows people to find inspiration for their lives, including recipes, home and style ideas, travel destinations, and others. It shows them visual recommendations based on people personal taste and interests. The company was formerly known as Cold Brew Labs Inc. and changed its name to Pinterest, Inc. in April 2012. Pinterest, Inc. was founded in 2008 and is headquartered in San Francisco, California.
On 07/01/20, news hit the wires that said Facebook confirmed it was shutting down its rival website / app Hobbi leaving Pinterest with great potential & almost no competition.
With Short Sellers controlling around 5.54% of the stock, and the news that Facebook is shutting down its rival app, I think this stock could easily run and possibly double in price.
Daily Chart is Bullish
The 50-Day MA just crossed up above the 200-Day MA
Volume, MACD, RSI, Stochastic and Accumulation are all Bullish
The Cloud is Bullish - Indicators listed below.
12-Jun-20
20.89 Bullish Chikou Span Cross Strong
29-May-20
20.29 Bullish Tenkan/Kijun Cross Strong
26-May-20
19.50 Bullish Kijun Sen Cross Strong
26-May-20
19.50 Bullish Kumo Breakout
27-Apr-20
20.78 Bullish Senkou Span Cross Strong
PINS could be the only play in town for what it has and does.
Long!
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Facebook: The 1 year pattern. Sell opportunity.Facebook has a unique sell entry pattern holding since April 2019. As seen on the chart, there is a +1 year trend-line of Higher Highs. Every time FB touches this line, it pulls back to the 1D MA200. Out of the previous 3 occasions, 2 times the 1D MA200 held while 1 time (COVID) it broke. At the moment FB is rising following Friday's strong selling but until it makes contact with the 1D MA200, we are not convinced that it is a buy again. We are selling on every rise and will book profit on the 1D MA200.
See how we used this pattern last time in January to great advantage:
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