Entering text into the input field will update the search result below

Facebook With Strong High Trend

Jul. 09, 2020 1:16 PM ETMETA
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.


  • Technical indicators showing a break in resistance at 245.45;
  • All signs indicate an upward trend on the daily and weekly chart;
  • Good expectations from investors regarding the resumption of the economy.

Dear readers,

This article presents the bullish movements of Facebook in the short and medium term, (NASDAQ: FB), and the present technical analysis was performed by reading the asset's graphic signals, in addition to technical tools such as: moving averages , Keltner, MACD and CCI / MA bands, confirming the reading of the strong upward trend.

Thus, it presents the daily chart of the asset:

As it is verified, the asset presents a strong upward channel in the period from 04.13.2020 until the present moment, in addition, the technical tools pointed at the same moment the three technical signs of trend , in which case there is synchronization of the upward trend.

This upward trend shown on the daily chart will be confirmed when there is a break in the immediate resistance of the asset at 245.45, as seen in the weekly chart of the asset:

The same strong upward trend is seen in the analysis of the weekly chart, again, the technical indicators point to a strong upward trend in the medium term.

Thus, when the asset exceeds the resistance by 245.45, it will find new resistance at 248.03, and if this top is overcome, the asset will find resistance at 266.23, as seen in the projection of the asset with the fibonacci overlap:

Therefore, the investor should pay attention to the next movements of the NASDAQ: FB, because the technical indicators and graphs indicate a strong upward trend that will be confirmed with the break of resistance at 245.45 and after finding new resistance at 248.03 and 266,23, as shown by fibonacci.


Analyst's Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.