Facebook Stock Analysis
Technical stock analysis for Wed 12'th Dec 2018
|Cash||41 711.0 mill|
Facebook gained 1.70% in the last trading day, rising from $142.08 to $144.50 , and has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has risen in 8 of the last 10 days and is up by 7.04% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 3.81 million more shares were traded than the day before. In total, 23.19 million shares bought and sold for approximately $3 351.25 million.
Facebook has broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction there will be support on the roof on the current trend broken, which is $142.50, a level that may pose a second chance to hit a runner. According to fan-theory $161.06 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
Only positive signals in the chart today. Facebook holds buy signals from both short- and long-term moving averages, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down there will be some support from the lines at $140.64 and $142.73. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday December 07, 2018, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 69 and the stock is currently not being overbought or oversold
Support & Resistance
Facebook finds support from accumulated volume at $139.53.
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 $4.68 (3.28%) between high and low. For the last week, the stock has had a daily average volatility of 3.15%.
Our recommended stoploss: $138.43 (-4.20%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 3 days ago.)
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Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.
|FB $144.50 $2.42(1.70%)|
FB is up $2.42 today, but where's it headed in 2019?
|Zacks Investment Research is releasing its prediction for FB based on the 1-3 month system that more than doubles the S&P 500.
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