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Analysis: #NASDAQ: #FB

Case 13 #Facebook Inc

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

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#Facebook has had a tremendous run in the last 5 years but like all #FANG stocks the summer of 2018 lead to a healthy correction. Current conditions are broadly range bound. The 15 month target is $315.00-$325.00

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Chart 1
Monthly Chart: #Fibs have been added off the main #trendline to the all time high. The 20 #SMA @ $173.06 attracting buyers. A trendline pivot (in red) #resistance stands in the way of further gains.

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Chart 2
Monthly Chart: Fibs added to the most recent downswing. A natural pivot resistance and natural pivot #support.

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Chart 3
Weekly Chart: A synthetic trendline pivot resistance has been added. The 40 week SMA has attracted short term buyers - for 3 weeks price has remain comfortably above and price hasn't closed below since March 2019. Two new trendlines in blue.

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Char 4
Weekly Chart: Inverted Fibs for resistance. The immediate resistance are in the yellow box. Minor demand in the green box and major demand in the blue box.

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Chart 5
Daily Chart: The #strategies for the medium term, short term and day trading are included in the image.

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Update: #Facebook Inc (#FB) .... Day Trading Oct 18, 2019

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