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Is Facebook set a new record soon ? Hello, Traders! Monfex is at your service and today we overview Facebook. Many shares of large, technology companies are reaching new records either near their previous peaks. Facebook hit the whole world this year with its intentions to conquer the financial sector with the Libra . And met with disapproval and criticism from the regulatory side. Now under the pressure. What can this chart tell us about the next price movements ? In order to reach the previous peaks, FB must at least break through the local zone of resistance. Perhaps we will see a short-term rollback of the price to the line and the local support zone, after which the inverted H&S pattern will be visible. But, if the price will break through the local support zone, then we can expect a further decline towards the next miror zone. The local resistance zone ~ $193-191 The local support zone ~ $180 The resistance zone ~ $200-205 The support zone ~ $160 Market Cap 540.092B Share your thoughts, ideas about the market under the chart. Watch for our Updates to be the first who gets well-timed signals ! GOOD LUCK AND LOTS OF PROFITS !! Disclaimer This report is for information purposes only and should not be considered a solicitation to buy or sell any trading assets. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
NASDAQ:METALong
by Monfex
1
Elliott Wave View: Facebook can See Larger CorrectionShort term Elliott Wave view on Facebook (ticker: FB) suggests the rally to 193. ended wave ((X)). The stock has resumed lower within wave ((Y)) which is unfolding as a zigzag Elliott Wave structure. Down from 193.1, wave (A) of the zigzag ended at 173.09. Internal subdivision of wave (A) unfolded as 5 waves where wave 1 ended at 188.12, and wave 2 bounce ended at 190.41. Stock resumed lower in wave 3 towards 175.66, wave 4 bounce ended at 179.84, and wave 5 of (A) ended at 173.09. Wave (B) bounce is currently in progress to correct the cycle from Sept 20 high in 3, 7, or 11 swing before the decline resumes again. Internal of wave (B) is unfolding as zigzag of lesser degree where wave A of (B) ended at 181.18. Expect a pullback in wave B, then another leg higher in wave C to end wave (B). Afterwards, as far as pivot at 193.1 high stays intact, Facebook should extend lower. Potential target to the downside can be as low as 100% Fibonacci extension from July 25, 2019 high towards $143.4 – 152.9.
NASDAQ:METAShort
by Elliottwave-Forecast
Elliott Wave View: Rally in Facebook is CorrectiveShort term Elliott Wave View on Facebook ( FB ) shows the decline to August 6, 2019 low (176.29) ended wave ((W)). The rally from here took the form of a corrective structure. Up from 176.29, wave (W) ended at 190.98 with the internal subdivision as a zigzag . Wave A of (W) ended at 186.30, wave B of (W) ended at 181.22, and wave C of (W) ended at 190.98. The stock then ended wave (X) pullback at 177.39 with the internal subdivision as an expanded Flat. Wave A of (X) ended at 185.11, wave B of (X) ended at 191.38, and wave C of (X) ended at 177.39. Wave (Y) rally is in progress. Up from 177.39, wave W ended at 187.50 and wave X of (Y) ended at 182.39. Near term, while above 177.39, expect Facebook to resume higher in wave C of (Y). Potential target to the upside is 192.71 – 195.15 area, which is the 100% extension from August 6 low. From this area, the stock should then resume lower or at least pullback in 3 waves.
NASDAQ:META
by Elliottwave-Forecast
6
Daily FB forecast timing analysis by Supply-Demand strength24-Jun Investing strategies by pretiming Investing position about Supply-Demand(S&D) strength: In Rising section of high profit & low risk Supply-Demand(S&D) strength Trend Analysis: In the midst of an adjustment trend of downward direction box pattern price flow marked by limited rises and downward fluctuations. Today's S&D strength Flow: Supply-Demand strength has changed from a strong buying flow to a suddenly strengthening selling flow. View a Forecast Candlestick Shape Analysis of 10 days in the future: www.pretiming.com (You can easily create a trading plan.) D+1 Candlestick Color forecast: RED Candlestick %D+1 Range forecast: 0.2% (HIGH) ~ -0.9% (LOW), -0.2% (CLOSE) %AVG in case of rising: 2.2% (HIGH) ~ -0.2% (LOW), 1.7% (CLOSE) %AVG in case of falling: 0.7% (HIGH) ~ -1.4% (LOW), -0.6% (CLOSE) Price Forecast Timing Criteria: Price forecast timing is analyzed based on pretiming algorithm of Supply-Demand(S&D) strength.
NASDAQ:METALong
by pretiming
Facebook-CEO Mark Zuckerberg said he wants to make sending money( CNN ) — For the last year, Facebook has been signaling it wants in on the cryptocurrency phenomenon. At its F8 developers conference last month, cofounder and CEO Mark Zuckerberg said he wants to make sending money as easy as sending a photo: digital, immediate, free and secure. On Tuesday, the company formally unveiled its highly-anticipated digital currency project. It's called Libra. Facebook also announced the creation of the Libra Association, an independent organization that will manage the currency, and Calibra, a unit of Facebook that will build applications related to the new digital currency. Facebook has 2.4 billion users around the world, an audience that could help it spur a bigger mainstream adoption of cryptocurrency than others have yet to generate. At the same time, the announcement comes at a critical moment in Facebook's history. The company is under regulatory and political scrutiny for its massive influence, as well as its mishandling of user data, even as it works to further extend its reach into users' lives. As part of the announcement, Facebook launched a test version of its blockchain, the technology upon which cryptocurrencies like bitcoin are built. It is open-source software, meaning developers can experiment with building applications on the platform and submit feedback on the code. The currency itself is set to launch in 2020. "Libra's mission is to be a simple, global currency and financial infrastructure that empowers billions of people," said Facebook's David Marcus, who runs Calibra and headed up the Libra project. One of the aims of the project is to help the 1.7 billion people around the world who don't have bank accounts access a stable currency and financial services. Over the past year, Facebook put together a team of executives and outside partners to work on Libra. Last May, Marcus, formerly president of PayPal, stepped down from his role as head of Facebook Messenger to build a blockchain team within the company. In recent months, the company established the Libra Association, a not-for-profit governing body that will oversee Libra. Facebook says it did not want to be solely in charge of Libra because it intends for the cryptocurrency to be a "public good." The group has 28 founding members — companies and nonprofits from several different countries — including Facebook , which says it will have just one equal vote. The association will be based in Geneva and officially take up its post this week overseeing the rollout of Libra. Facebook hopes to have 100 association members by the 2020 launch. Among the founding members are heavy hitters in the tech, finance and nonprofit sectors, including Mastercard, Uber, Mercy Corps and Andreesen Horowitz. These partners bring expertise in areas key to the project: international financial regulations, blockchain and the financial needs of poor communities around the world. How Libra will work Users will be able to access Libra in a number of ways, not just through Facebook . Facebook's new subsidiary Calibra will build a "wallet" application for people to use Libra, send it to their friends and make purchases on Facebook and Instagram. A button on Whatsapp and Messenger will allow users to send Libra in their message threads, the same way they send GIFs or emojis. Calibra will also operate as a standalone app. Other companies will be able to build similar applications. For example, a bank could build an application allowing users to take out a loan in Libra, or a retail company could plug into the network so users can make payments in the digital currency. But Libra will still face a hurdle to get widely adopted. To get Libra, users will need to go to their local bank or money exchange to trade local currency for it. And for a user to spend the money their friend sent over Messenger without first depositing it back into their bank account will require, say, their favorite clothing store to accept Libra as payment, too. Though Facebook's large user base will give the cryptocurrency broad exposure initially, the effort's success will depend on consumers being able to do more than just use Libra on Facebook's platforms. Libra will be backed 1:1 by a bundle of financial assets likely to include bank deposits and short-term government securities from the US Treasury, among others. This will help it avoid the volatility that has plagued other cryptocurrencies like bitcoin . This kind of "stable coin" is highly unusual among cryptocurrencies, according to Ari Juel, a professor at the Jacobs Institute at Cornell Tech who studies cryptocurrency. Digital currencies are usually not backed 1:1 because that would tie up billions of dollars in reserve currencies that could not be used. Even traditional financial institutions, like US banks, do not fully back deposits this way, hence the need for FDIC deposit insurance. However, this stability will be essential for the mainstream adoption of Libra, according to Union Square Ventures Partner Fred Wilson. Union Square Ventures has made a number of investments in the cryptocurrency sector in recent years and is a Libra Association founding member. "People don't want to transact in a cryptocurrency that's not price stabilized," Wilson said. "They don't want to make payments in a currency that could go way up and they don't want to earn in something that could go way down." Questions about the use of user data and Facebook's role In recent months, Facebook has faced criticism from users and politicians over privacy and security issues on its platforms, and reports suggest it could face antitrust scrutiny. Amid rumors of the company's cryptocurrency plans, the US Senate banking committee last month wrote a letter to Zuckerberg asking how the company would protect users' financial data. Facebook said it received the letter and is addressing the senators' questions. For its part, Facebook said users' financial data will be handled solely by Calibra, and not be shared with Facebook or paired with users' social data. The company has also been working with financial regulators in the United States and elsewhere. It developed a procedure to verify the identities of people who will use Libra on its platforms, to comply with government rules meant to mitigate cybercrime. Even though Facebook won't solely control Libra, some in the industry worry that the project isn't in the spirit of the larger cryptocurrency sector, which has prized decentralization. "With regards to international exposure, it's a positive but that may be where the positives end," said Richard Dennis, founder of cryptocurrency marketplace Temtum, which offers a digital currency. "With Facebook one of the biggest hoarders of personal data on the planet, there's a complete contradiction of what cryptocurrencies are meant to be — no one entity should hold the power, the data or most importantly control user funds." Ultimately, Facebook is betting on its scale, as well as the customer bases of Libra Association members, to get consumers to buy into the technology. Union Square Ventures' Wilson compared the project to when Microsoft installed Internet Explorer on all of its computers with Windows software, pushing mainstream consumers to access the internet, a network that had existed previously but hadn't yet infiltrated most households. "Our hope is that Libra will do the same thing for the world of cryptocurrency," Wilson said. "I think it can be an on-ramp for consumers to this much, much larger world of cryptocurrency that's out there."
NASDAQ:META
by IgorPorokh
7
Facebook wants to make cryptocurrency mainstream Steblecoin Libra from Facebook is one more big step towards accepting cryptocurrencies all over the world. The company formally unveiled its highly-anticipated digital currency project. It's called Libra. It is also known that it has been in the United States of America (FB). I’m a couple of people who haven’t been able to help. At the same time, the announcement comes at a moment. It is a rule of law that it’s not a matter of regulatory influence. This is an introduction to the cryptocurrency of new people,   This is a new opportunity for many people to buy cryptocurrency, and especially Bitcoin for steyblecoin libra. Thereby will increase market capitalization and cryptocurrency edition.cnn.com And as for the share price of the company Facebook, I believe that the price will continue to grow
NASDAQ:METALong
by EXCAVO
10
$FB. Still cheap. Long.Facebook announced $Libra, this decision to enter into the crypto environment might have a very positive effect on the price, because $Libra opens a lot of opportunities for development in this sector. Also the chart has strong uptrend channel, where the price wants to back to its avg at $210 - $215 to continue the uptrend. Time Frame: 4H Resistance ~ $220 Support: ~ 1W Lower Bound ~ EMA lines ~ Strong support $165 TP ~ $250 and higher I have the subreddit with the same name, if you wanna ask me or community, feel free to do that. Hit like, comment and follow for more profitable ideas.
NASDAQ:METALong
by MARKETKNOWS
Elliott Wave View Favors More Upside in FacebookElliott Wave view on Facebook (ticker FB) suggests that the rally from March 19, 2019 low is unfolding as an impulse Elliott Wave structure. In the 1 hour chart below, we can see wave (2) of this impulse ended at $161.99. The rally from there to $179.19 ended wave (3). Internal of wave (3) subdivides as an impulse of lesser degree. Up from $161.99, wave 1 ended at $169.45 and wave 2 pullback ended at $163.33. The stock extended higher in wave 3 to $178, wave 4 ended at $174, and wave 5 of (3) ended at $179.19. Wave (4) pullback is now in progress to correct cycle from March 25, 2019 low (161.99) in 3, 7, or 11 swing before the stock resumes higher again. While staying below $179.19, the stock has a chance to turn lower in wave (4) as a double correction. If the stock breaks above $179.19 from here, then it can still be part of wave (3) in extended wave 5. We don’t like selling the stock and favor more upside as far as pivot at $161.99 stays intact.
NASDAQ:METALong
by Elliottwave-Forecast
FACEBOOK THE DUMP IS CLEAR NOWThis couldnt be more clear. Facebook had an ABC retracement up finishing of the C wave. At 174,2. To make it more clear, we have 5 subwaves. Within the 5th subwave we have 5 sub-subwaves ending at 2.272 extension. Everything is lining up for this dump. We keep creating lower highs on the RSI, which means we are losing bullish momentum. MACD is also slowly ticking down towards the bearish side. My SL is set to 174,4 TP: Is at the last support at 150.
NASDAQ:METAShort
by LukeSkywalker
Elliott Wave View Suggest Another Push Higher In FacebookElliott wave view in Facebook (ticker symbol: $FB) suggests that the rally from December 24.2018 low ($122.55) is unfolding as Elliott wave zigzag structure. The first leg of a zigzag structure ended in wave ((A)) at $152.43 high. Down from there, wave ((B)) pullback unfolded as double three structure where wave (W) ended at $146.37 low. Wave (X) bounce ended at $148.80 high and wave (Y) of ((B)) ended at $142.52 low. A zigzag structure is a 5-3-5 structure where wave ((A)) & ((C)) can unfold as an impulse or a diagonal structures. In Facebook case, the wave ((C)) is taking a form of an impulse structure where wave (1) ended at $149.83. Wave (2) pullback ended at $143.46 low in lesser degree zigzag structure. Wave (3) ended at $171.68 high in lesser degree 5 waves structure. And wave (4) pullback unfolded as double three structure where wave W ended at $165.35 low. Wave X bounce ended at $169.10 high and wave Y of (4) ended at $163.67 low. While above there, the stock is expected to resume the upside 1 more time in wave (5) towards $172.61-$191.13 100%-161.8% Fibonacci extension area of ((A))-((B)) before it ends the zigzag structure & turns lower again or pull back in 3 swings at least. Near-term, while above $1163.67 low, expect Facebook to extend higher.
NASDAQ:METALong
by Elliottwave-Forecast