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Pinterest Fills the Earnings GapPinterest has been making news this year. First, eMarketer said it surpassed Snap as the third-biggest social-media platform in the U.S. The second headline was a strong earnings report on February 6, featuring beats on the top- and bottom lines. PINS gapped higher on the results and then pulled back -- as you might expect. But then it kept sliding on the last big news story: Facebook's launch of a competing app. That was good news for potential buyers because it brought PINS all the way back down to fill the earnings gap. The next signal came yesterday when PINS formed a bullish outside day/engulfing candle. That potential reversal pattern suggests the short-term bearishness is finished. We're using an hourly chart here to show how PINS is holding the 100-day simple moving average. This can be a useful indicator for equities when the daily chart lines up. Multi-time frame analysis is in our blood at TradeStation!
NYSE:PINSLong
by TradeStation
Twitter: Jack Dorsey's Second Gap Fill This MonthSquare rallied hard after filling a price gap a few weeks ago. Now Jack Dorsey's other company, Twitter , is doing the same thing. Strong quarterly results on February 6 sent TWTR ripping on heavy volume. In a nutshell, better user monetization and engagement restored confidence in the social-media platform's business over the long term. The stock has consolidated its gains as it chops along the 200-day simple moving average (SMA). It also probed the bullish gap but never filled it. Next, the weekly chart just completed an inside candle: a higher low and lower high. It also closed a few pennies below the previous Friday. That can signal volatility is calming before movement returns. Traders will now watch for TWTR to hold the 200-day SMA as it pushes against the $38-40 congestion area from October. Above that, the 2018 peak around $47-48 comes into play.
NYSE:TWTRLong
by TradeStation
1
Is Facebook Flying a Bearish Flag?Facebook gapped lower on a poor earnings report two weeks ago. It's staggered there since as the rest of the market rebounded, and now the technicals may be pointing lower. The first big pattern is a potential bearish flag following the January 30 drop. The direction of movement was lower, so a continuation pattern like a bear flag could point toward another leg down. Next, the bearish flag has taken shape along the 50-day simple moving average (SMA). The key line tried to give some support but now that could be fading after two weeks of consolidation. Third, FB's recent move above $220 could be viewed as a false breakout compared to the July 2018 peak. That creates potential for distribution (otherwise known as "selling") if recent buyers near the highs lose confidence. The news has already been shifting in that direction because FB's performing the opposite of many other big technology firms like Apple , Amazon.com and Microsoft . They're all delivering in key growth areas (services, AWS, Azure). Even companies like International Business Machines and Twitter are showing signs of a turnaround. FB, on the other hand, is struggling to grow as regulatory pressures increase. A big downgrade from Pivotal Research yesterday also raised questions about ad revenue. The current setup also has a potential level for risk management, with bears able to use the 50-day SMA as their pain threshold. To the downside, $200 could be the next line to watch.
NASDAQ:METAShort
by TradeStation
Facebook: There's Nothing Funny About a False BreakoutFacebook dropped sharply on Thursday after quarterly results raised questions about its longer-term growth story. Sure, the backward looking numbers weren't bad. But looking forward, newer offerings like Instagram don't seem to be catching fire. The "big blue app," with its slow-growing and ageing user base, isn't really thrilling investors. This stands in contrast with other big tech names like Apple , Microsoft , Amazon.com and Tesla . Those are all evolving their businesses toward the "next big thing." The technicals, as usual, show these fundamentals clearly: AAPL, MSFT, AMZN and TSLA have broken out to new highs. FB has not only failed to break out. It has a failed breakout. This week's price action could have a long-term impact on the social-media giant because it represents a double-top spanning 18 months. Patterns like this are often followed by months, if not years, of consolidation and pain. Just look at Alphabet 's trading after its April 30, 2019, bearish gap. That argues against rushing into FB here. Some chart watchers may like the 50-day simple moving average (SMA) and the $205.50 support area from July 2019. But this week's high-volume false breakout and double top could prove more powerful to the downside. It could be too early to buy the dip.
NASDAQ:META
by TradeStation
Zynga Had a Cup and Handle Breakout. Here's the PullbackZynga is a classic growth stock with a textbook cup and handle pattern. The social and mobile videogame stock doubled between late 2018 and the summer of 2019. It then paused and consolidated. Its August low of $5.51 was the cup. The following low of $5.63 in October represented the handle. ZNGA soon entered a tight channel and moved sideways, followed by a high-volume breakout on January 7. The stock quickly ran up to an eight-year high near $7 before halting. It's now retraced most of the breakout, having dropped for five straight sessions. ZNGA is now back to the top of the basing structure and its rising 50-day moving average. That could give traders who missed the initial breakout other chance. Earnings are due February 5.
ZLong
by TradeStation
Facebook: Higher High on 1W. Potential pull back.Facebook has been trading within a 1W Channel Up (RSI = 69.832, MACD = 8.020, ADX = 41.061, Highs/Lows = 15.2786) since early February 2019. Right now the price is only a fraction below the pattern's Higher High trend line which is typically an early bearish signal. On top of that both the MACD and RSI indicators on the 1D chart have reached their respective multi month Resistance Zones. This is an additional sell signal. As FB has been trading within a narrower 1D Channel Up since the October Low, our short term Sell Target can't be below the Higher Low trend line (dashed line). Since the former July ATH at 208.50 matches perfectly on the trend line, we will take that as TP (target/ take profit). Notice how well the 1D MA50 comes for support near that level. It can be argued that the 1W Channel Up has a gap to fill much lower for a Higher Low, but it is too early to discuss that. If the MA50 breaks, then the MA200 may come for support and accumulate buyers without reaching the Higher Low trend line. And since Facebook is on a long term uptrend it is best to buy such pull backs (when/ if they come) and not sell. ~~~ Our previous long term call on Facebook issued last September with the 220 target hit: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
NASDAQ:METAShort
by InvestingScope
2
Twitter 1 year prediction : bearish As much as I like the twitter platform, one has to admit this social media is plagued with bots, scammers, fake news and censorship. On top of that, the CEO Jack really lack focus on this company, as he spend much of his time on SQUARE and/or living in Africa or promoting shit like cashapp and BTC. So, I'm starting to see a pattern here that is short term bearish. If we break down this dark green trendline, short this stock to the ground to show twitter that you dislike their policy. If you agree with this idea, and/or you believe this pattern will develop, follow and like please :) Good luck
NYSE:TWTRShort
by hurluberlu
3
Rising volume in Pinterest indicates momentum is changingPinterest has broken its downward trend line three times now, and each time it quickly resumed its downtrend. This latest time may be different, though. Pinterest hit a previous low, whereupon it received a big spike in volume. The analytics firm Pivotal took that as a cue to upgrade the stock to "Buy." Volume has remained high, so the next trend line break might actually stick this time. Pinterest could get a lot more buying volume coming in if it falls again to previous lows at 25.32, 23.91, 23.60, and 23.05.
NYSE:PINSLong
by ChristopherCarrollSmith
Facebook: Long term Buy Opportunity. Two levels to watch.Facebook has been trading within a long term 1W Channel Up (RSI = 53.674, MACD = 5.760, Highs/Lows = 0.0000) having only recently made its Higher Low. Technically there can be room for one more minor pull back near the previous Low as the current candle sequence resembles that of February 2019. If however the 1D MA50 breaks (blue line) the pull back bias are invalidated and the 1W Channel Up can continue rising towards a new Higher High. Our Target is 220.00. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
NASDAQ:METALong
by InvestingScope