Facebook trending sideways

Saturday, 2019-01-26

Facebook dropped out of small uptrend channel

Thursday, 2019-01-24

Facebook just above bottom line of old major uptrend channel

Wednesday, 2019-01-23

Facebook displaying a Rising Wedge right below bottom line of old major uptrend channel

Saturday, 2019-01-12

Facebook right below bottom line of old major uptrend channel

Thursday, 2019-01-10

Facebook - Small Uptrend Channel

Sunday, 2019-01-06

Facebook - Downtrend Channel

Thursday, 2019-01-03

Facebook - Downtrend Channel

Saturday, 2018-12-22

Facebook - Should price manage to stay within the small yellow Uptrend Channel we could see another attempt to reenter the Old blue Major Uptrend Channel

Tuesday, 2018-12-18

Facebook - Next attempt to reenter Old Major Uptrend Channel

Friday, 2018-12-14

Facebook - Rejection at Bottom Line of Old Major Uptrend Channel

Monday, 2018-12-10

The 45-minute-chart of Facebook shows that price got rejected at the blue Bottom Line of the Old Major Uptrend Channel of Summer 2013 and bounced back into the yellow Small Uptrend Channel.

Facebook - Small Uptrend Channel establishes within Main Downtrend Channel

Tuesday, 2018-12-04

Facebook - Downtrend Channels since Q2

Thursday, 2018-11-22

Facebook - Falling Wedge at BottomLine of UpwardChannel

Thursday, 2018-09-27

On the hourly chart of Facebook we see the formation of a Falling Wedge which began to develop shortly after the Drop that followed the Q2 Earnings Report in late July. The purple drawn line on the chart is the BottomLine of the new purple UpwardChannel that began establishing in late August 2015 (see also Chart from 2018-07-28).

Facebook - Bullish Belt Hold-Pattern was confirmed and reached Target at Resistance

Tuesday, 2018-09-11

After the Bullish Belt Hold-Pattern, which we had discussed here in the previous article on Sunday, was confirmed on Monday, price bounced back at 167,19 $ on Tuesday just ahead of the Bottom Line of the purple New Upward Channel (see also Chart in my article from 2018-07-28 further down) where it found Resistance. Eventually price covered 72 % of the distance presumed in my previous article.

Facebook - Candlestick-Analysis shows Bullish Belt Hold-Pattern

Sunday, 2018-09-09

In the light blue box on the righthand of the chart we can see the Downward move that occurred during the last 6 trading days leading to an 11 % drop in price. After 3 red candles of which 2 even displayed a significant Down Gap another large red candle with a long tail followed, whose open happened to be only slightly below the previous day's close and that circumstance if compared to the 2 Down Gaps that occured between the 3 previous candles could be a first hint towards a slowdown of the Downward Move we saw in the last 6 trading days. Those 4 red candles were then followed up by a green candle for the first time on Friday. It opened just above the Low of the previous day and displayed a significant wick. If we see such a green candle at the end of a Downward move than we speak of a Candlestick Pattern called Bullish Belt Hold. This Pattern momentarily hints to a possible upcoming Reversal within the Downward move which we saw during the past 6 trading days. That Reversal would still have to be confirmed on the next trading day this Monday. In case we get to see that needed yet still missing confirmation on Monday a possible Target would be the former Support Zone between 170 $ and 172 $ which should by now have turned into Resistance.

Facebook indecisive going sideways

Saturday, 2018-09-01

The Support-Level at 172 $ as well as the Resistance-Level at 179 $, which we had discussed here 2 weeks ago, both held during the entire past 2 weeks. These 2 levels define the current Sideways Range until one of them is broken. Friday price closed exactly in the middle of that Range between 172 $ and 179 $
at 175,73 $ displaying the current indecision of the stock.

Symmetric Triangle with potential to breakout and hit 176 $

Thursday, 2018-08-23

On the 5-Min-Chart we see a Symmetric Triangle (drawn on the chart in purple) that made a False Breakout (light blue circle) during the final trading hour on Wednesday. Assuming a 1 to 1 Target Projection 176 $ seems a reasonable target, provided the purple upper line of the Symmetric Triangle remains a reliable Support.

179 $ turns into Resistance again

Saturday, 2018-08-18

After price moved sideways 3 days in a row along the 41 %-Retracement we talked about last time, the up till then valid Support Zone around 179 $ was finally breached. That turned the 179 $-mark into Resistance again, at which price bounced back the same day as well as the following day. It wasn't before Friday that this strong Downward Move was coming slowly to a hold when a small Double Bottom began to establish at 172 $. If that light Support at that level will hold or be breached at the next test remains to be seen.

The current Flag has now retraced further

Saturday, 2018-08-11

The 1-Min-Chart shows that price has retraced further within the current Flag Setup. The current Retracement is now 41 %. That subsequently reduces the Target Projection to 201 $.
Still yesterday the Retracement was merely 27 %. The new Retracement Line now runs at 179,45 $ on the same level as the former Resistance Zone between 178,85 $ and 179,35 $ which was already tested twice by Downward Moves during the last 6 trading hours on Friday and since then seems to have changed into a Support Zone ranging from 179,40 $ to 179,70 $. That circumstance as well as the extent of the current Retracement make the present Flag Setup look still intact at the moment.


Thursday, 2018-08-09

The current 1-Min-Chart of the Facebook Stock displays a storybook Flag Setup. This Flag developed directly after price had hit the latest Low which followed Facebook's Q2 Quaterly Earnings Report. Using a 1 to 1 Target Projection the current Target would be 204 $.

Bottom building

Saturday, 2018-08-04

The 1-Min-Chart shows how price moved sideways within the light blue horizontal drawn Channel for one day right after the 20 % Drop that followed Facebook's Earnings Report. Followed by a transition into the light green Downward Channel. On day 3 Bottom Building began after reaching the Low just above 166 $. Afterwards price entered the dark blue Upward Channel and stayed within that Channel for 4 days where it still remains. Since price transitioned into the dark blue Channel after marking the Low at 166 $ it was able to mark a 1st High, a Higher Low and a Higher High as well. As long as price manages to stay within the dark blue Upward Channel the recovery which is currently setting in is not compromised. The next obstacle to overcome is the 180 $-mark which is located exactly on the same level as the upper boundary of the light blue Sideways Channel (on the left-hand side of the chart) that was entered by price right away after Earnings. If the 180 $-mark should be taken permanently then Bottom Building could be considered complete.

Facebook after Earnings Q2 2018

Saturday, 2018-07-28

From Summer 2013 onward until April 2017 the price of the Facebook Stock stayed within the brown Upward Channel.
Since August 2015 an even steeper purple Upward Channel seems to evolve.
Although the Earnings Report which was published by the end of this week led to a 20 % price Drop the Facebook Stock still remains within the purple new Upward Channel. Besides that price also still remains outside/above the old Upward Channel which was abandoned in April 2017.
Furthermore lies a strong Support Level at about 169 $ on the exact same level where the upper boundary line of the old brown Upward Channel runs. Moreover close below runs the lower boundary line of the purple new Upward Channel at about 165 $.
As long as price remains within the purple new Upward Channel or leaves that Channel for a few days staying above 160 $ all the time only to reenter the purple Channel and rise above 165 $ again Facebook still remains to be considered bullish.