$TCEHY / TENCENT has bottomedTencent has bottomed.
- Inverse H&S
- High volume
- Support from 200 WMA
- Support from trend line
- Oversold RSI
What else bottoming out needs? Nothing IMO.
Facebook (FB)
FB longEntry price: 337-342$
Target price: 377-384$
Candle pattern: Bullish Harami
Keltner Channels: the price beyond the lower band
RSI: indicator approached the 30 level, therefore the market is close to be oversold
Conclusions: RSI, candle pattern and Keltner Channels suggest the trend reversal. Thus, the long position is recommended in the support zone.
No financial advice
$FB almost there to bounceWe are almost there with $FB, as you can see the pattern measuring the ATR with Keltner Channels.
My target is the 3rd upper ATR after the before-seen RSI confirmation rising from below 50% and the candle being almost halfway from 1-2 ATR.
However, it might just bounce without touching the 1 ATR level as it did on Aug 04 (see rectangle)
Facebook shares face a critical challenge ahead at 355
The recent bounce at 342 will be tested at around 355 if shares are to continue back up. We also have another critical resistance level around 364 based on the previous price action indicated on the chart. Share prices could head back down to previous support at 346.75 and 338 if it fails to hold above 355
$SPX and $FB idea based on fractals Carried out two different fractal analyses and found a similar movement of the two charts
Small-scale correction is expected later in the year
FB Long 9/23As long as this stock doesn't lose 350 we should be good to upside. 355 Buy calls above
TP 1 : 366
TP 2 : 374
TP 3 : 390
one more all time high the covid pump has to be corrected and it correlates with the correction of FB. the covid correction WILL NOT be a crash, it will be a slow correction. the market will stop correction after the next elections in 2024
$AAPL / APPLE going down after bouncing off from upper channelApple has been trading in a nice looking price channel for a while now. Every time it hits the upper channel line, it gets smacked down.
$SPY / S&P 500 LONG TERM RESISTANCE WORKED AGAINIt worked again. S&P 500 has not been able to break out from this resistance level since GFC.
Third day below 50 DMA. $SPY #SP500Third day below 50 DMA. It's clear that breakout has happened. It will take some time before the ship turns.
As long as S&P stays below 50 DMA, I am bearish.
SPY / S&P 500 10-20% correction.after 540 days of S&P 500 going basically straight up there is a crack in "smooth market functioning". Breakout from the rising wedge and breakout below 50 DMA. This will cause a major correction between 10-20%.
Facebook .. ?NASDAQ:FB
In a summary
Recently, due to US inflation affecting most US stocks, as well as Wall Street Journal allegations against Facebook over Facebook's awareness of Instagram harming teens and Facebook's failure to take action to control the issue. The WSJ says the company prefers profit, Facebook shares fell 4% from Monday to Wednesday. With all these interpretations and other things, Facebook is not in a good position fundamentally, but let's take a look at the $ 1 trillion price chart of this company and see how the company's stock is technically doing.
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1. A very nice uptrend channel is recently broken
2. A nice short-term support zone is broken (150$)
3. Also the price has broke the EMA towards down
BUT
4. The price is still moving in a long-term uptrend (with 2 touches)
5. RSI is inside the oversold range (29) and this number has acted for a great bullish move on March 16th , 2020 , so we can be hopeful to this indicator for a bullish move
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Now let's take a look at Support levels :
S1 : 333
S2 : 302
S3 : 245
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I think for now it's good to put it in our weekly watchlist and check how the price will act in next week
also we need to check the news about the company according to problems with WSJ ect ...
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my personal opinion is that Facebook is a great and valuable company and I don't think the price will stay down for long time
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Guys if you decided to trade on this stock , consider the risk and have a good risk management and don't forget about SL
*this is just a personal analysis and this person has no responsibility of your trade and risk*
Wish you all luck guys !
Short SNAP - Downgrades Likely Cometh Soon If FB was hit as hard as it was by the AAPL update effecting it's advertising business.. you can better believe that SNAP is not far behind getting blown out.
Goodluck, opinion only.
Facebook has a good long entry price. RSI under 30NASDAQ:FB a big blue chip stock is showing a good long entry.
Indecision in the marketWhat Are Inside Days?
Inside days refer to a candlestick pattern that forms after security has experienced daily price ranges within the previous day's high-low range. That is, the price of the security has traded "inside" the upper and lower bounds of the previous trading session. It may also be known as "inside bars." Inside days may indicate consolidation or lower price volatility.
Inside days can be indicative of indecision in the market for security, showing little price movement relative to the previous trading days.
Trading with technical tools like candlesticks is a highly specialized practice and therefore, must be done carefully. Spotting inside days is of interest to a trader because he may believe that the subject security is setting up for some sort of move up or down.
As you see in the chart after Flash crashes in Bitcoin it is quite common to have inside bars!
I believe in consolidation patterns (sideways) I would be better not to trade! because in this situation market becomes efficient and predicting prices movements become harder!
You can see the example in the Crypto market as well:
Reference Article:
www.investopedia.com
FACEBOOK Daily Chart. Ready to form a right shoulderFB has reached the previous base. Now we are expecting a right shoulder to form. Initial target 375.00.
MARK ZUCKERBURG Inside Trading every day of this Ascending Price Movement, Zuckerburg sell off his stake on Facebook with a huge amount of sell orders.
for more information, you can check the yahoo finance and other belikes Fundamental Information Platform that shows the insider tradings.
Market OverviewApple, Facebook, Google, S&P 500, and Nasdaq lost their support!
They all crossing below 50 EMA which used to be important support levels.
AAPL
NASDAQ:FB
GOOG
Question:
what are the signs of reversal?
Is more correction possible or not?
