SWING ON FACEBOOK
You cant cuck the Zuck usually.
Good news may be coming, and the competition to buy a fading app (TikTok) while FB is investing (without paying ludicrous amount of money) in their own can push the price up this week.
Price is squeezed....but no much volume in the market.. when it will be back we are going to see a nice swing imho.
Watch out for...
Until the price reached 220, it's quite ambiguous whether it will go up or down, 100EMA usually strong resistance and buy from here, On the contrary it has seen the reversal from uptrend and all-time high is $245. Go for Long if it touches $220, if the daily candle of 30/06/20 goes bearish, its indication of Downtrend momentum.
FB formed a double Bottom from 11/18 to 02/19 which was confirmed by the succesful breakout on 14 january. Fueled by the earnings Reports on 30 january FB had a big upside gap. Now we have breakout of the consolidation and so we have further updside potential.
Profit Target 215$, Stop loss 165$
2:1 reward : risk ratio
