Facebook shares (NASDAQ:FB) are a bull market despite the current short-term weakness. The current bullishness started in October 2019, as price grinds higher and higher, albeit with low momentum.
ADX 14 is at the level 20 (low momentum), and DM- is intertwined with DM+ as one is not clearly above the other. The market is not currently interesting.
However, MACD default parameters, has both its signal lines and histogram above the zero line. What remains is for the ADX and its DM – and DM+ to rise above the level 30, so that a Bullish Confirmation Pattern will form. This will signal a continuation of the bullish journey in the market, following the current pullback.
The condition in the preceding paragraph must be fulfilled for the bullishness in the market not to be threatened by any unexpected bearish threats.
The outlook on Facebook is generally bright for this year and price may target the resistance levels at 210.00, 230.00 and 250.00
Trading realities: Trading realities
CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).
This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.
Hot Features
Premium
Trade smarter, not harder: Unleash your inner pro with our toolkit and live discussions.
