Bearish trend but small reboundI used a couple different indicators. RSI, Vol, EMA, Mac D. All these indicators point me the same direction. While it's definitely oversold according to the RSI, it only confirms a small rebound. But the EMA and mac D both paint a bearish picture in the future. This stock will either continue to plunge, or will end up consolidating at a lower price range and continue a downtrend.
FBUSD trade ideas
Facebook Entry PointHello!
We see that there is a downside channel in FB stock. For the ones who ask the entry level to that stock is around 357$
Why?
1. We should be sure that the downtrend is over (Above the blue channel)
2. We should believe that the resistance area (red area) is broken upwards.
So, do not hurry to go long for facebook, just wait the right time.
Stay safe!