FB for strong reversal before FEDS taper?
Updated
FB has been on a strong upward trend since for about eight months. Over the past few months, FB has constantly respected the 1.618 line of the fibonacci extensions. Based on that I am predicting FB to go up to $396-402 in the next couple of weeks.
- Support zone was between $373.18 - $372.51
- FB made a strong drop to $373.15 and made a strong reversal up
- The support zone was also in the area of a previous high
- MACD shows that the MACD lines is bouncing off of the signal line and looking to make an uptrend
-FB tends to make its moves over a two week period
- I expect FB to reach its next peek around SEPT. 24
- According to my pitchfork, a resistance point on SEPT 24 is 393.16
- This is on point with FB typical trend and my fibonacci 1.618 predictions
- Support zone was between $373.18 - $372.51
- FB made a strong drop to $373.15 and made a strong reversal up
- The support zone was also in the area of a previous high
- MACD shows that the MACD lines is bouncing off of the signal line and looking to make an uptrend
-FB tends to make its moves over a two week period
- I expect FB to reach its next peek around SEPT. 24
- According to my pitchfork, a resistance point on SEPT 24 is 393.16
- This is on point with FB typical trend and my fibonacci 1.618 predictions
Note
Today FB gave us a bearish harami candle, I believe FB will fall to $365-ish and make its reversal up. I had FB either bouncing off the $372 or the $365 line. Yesterday seemed to put a lot of stocks in position so they can fall.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.