Market Overview:-
US equity market made record high on Monday. Dow Jones Industrial Average ended 16695.47 adding up 0.68% and S&P 500 Index ended up at 1896.5 gaining 0.97%. To the surprise out of the falling Technology stocks Nasdaq ended up at 4143.86 adding up 1.77% to the index. Investors are now eying on retail sales data due on Tuesday to continue with the bullish sentiment.
Stock in Focus: FACEBOOK INC
RecommendationBuy above $60.00
Target $62.50
STOCK SUMMARY:-
Facebook Inc is overall in bullish trend and is sustaining at higher levels on charts for near term.
Traders can buy the stock above the level of $60.00 which is a near term resistance level for the
stock, and if it manages to breach this level further bullish movement is expected in this stock to
test the levels of $62.50.
CHART FORMATION
Stock is in overall bullish trend and price is taking support from trend line on daily intraday chart
which is supporting bullish rally. Near term breach of resistance level of $60.00 is expected,
which would result into further bullish sentiment in the stock to test the levels of $62.50.
INDICATORS:-
RSI is trading with positive bias and in MACD signal line is sustaining above MACD line which
is supporting the bullish sentiment in the stock.
BULLS OF THE STREET (NYSE)
Name | Close Price ( $ ) | Change % |
Doral Financial | 03.76 | 24.50 |
Castlight Health CI B | 13.56 | 17.50 |
Autohome ADS | 34.35 | 16.92 |
Pinnacle Foods | 34.47 | 13.20 |
Bitauto Holdings ADS | 38.99 | 12.88 |
BEARS OF THE STREET (NYSE)
Name | Close Price ( $ ) | Change % |
Core Laboratories | 167.02 | 11.68 |
Bridgepoint Education | 14.51 | 08.86 |
Federal Agriculture Mortgage CI C | 32.66 | 07.82 |
Standard Register | 05.79 | 05.39 |
Emergent Biosolutions | 21.52 | 05.32 |
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.