Thu 19'th Oct 2017

PERIOD 2017-07-20 - 2017-10-19
CHANGE -0.84%
PRICE $174.56
VOLUME
Buy
TREND
Buy

MV LONG
Buy

MV SHORT
Buy

PIVOT
Sell

MACD
Buy

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Facebook Stock Analysis

Technical stock analysis for Thu 19'th Oct 2017

Hold candidate since 2017-10-18 Loss -0.84%

Facebook fell by -0.84% in the last day from $176.03 to $174.56 and has now fallen 3 days in a row. The price has risen in 6 of the last 10 days and is up by 1.94% over the past 2 weeks. Volume has increased in the last day by 1.14 million shares, but on falling prices. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 13.86 million shares bought and sold for approximately $2 419.28 million.

Trend

Facebook lies in the upper part of a weak rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $177.00 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 2.92% during the next 3 months and, with 90% probability hold a price between $169.03 and $182.17 at the end of this period.

Signals

Facebook holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $174.32 and $171.41. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Tuesday October 17, 2017, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Relative Strength Index (RSI)

RSI14 is 62 and the stock is currently not being overbought or oversold

Support & Resistance

Facebook finds support from accumulated volume at $170.44. On the upside the stock meets some resistance just above today's level from accumulated volume at $176.03 and $176.11.

The stock is about to test the resistance from accumulated volume at $176.03 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Support: $170.44 Price: $174.56 Resistance: $176.03

Risk

This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $3.40 (1.97%) between high and low. For the last week, the stock has had a daily average volatility of 0.99%.

Our recommended stoploss: $167.02 (-4.32%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 2 days ago.)

Overall risk:

Very Low Low Medium High Very High

Evaluation

Facebook holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.

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