Facebook Stock Technical Analysis: Facebook stock continues its trading today in a weak downward trend, as the stock recorded its lowest level in the current session at 575 and its highest level at 587.
and is currently trading at 586. Although the general trend of the pair is still bearish, there are signs of weakness in the negative momentum.
which enhances the possibility of an upward correction or even a gradual change in the trend.
Facebook Stock Technical Analysis: General Market Analysis
The general trend of Facebook stock remains bearish in the short term, but prices are currently trading near intermediate resistance levels.
with signs of strong support that enhances the upward momentum. At the moment, the stock is showing some weakness in the downward trend, which may open the way for upward movements in the near future.
Technical Analysis:
- Moving Averages: The stock is currently trading above the major moving average levels, which supports the idea that the uptrend may have a chance to return or at least that there is support for this trend in the short term. The price remaining above these averages is a positive indicator, as it reflects stability in the bullish trend in the short term.
- MACD Indicator: The MACD indicator indicates a decline in the strength of the negative trend, as the lines began to gradually converge, which reflects a decline in the bearish momentum. While the stock is still in the negative zone on the MACD indicator, this decline in negativity enhances the positive possibilities for the pair, as it indicates that there are great chances for a gradual shift in the trend to an upward one.
Trading strategies based on Buy/Sell levels
| Facebook Stock | In case of buying | in case of selling |
| Entry point | 589 | 581 |
| Target Point 1 (TP1) | First resistance: 594 | First support: 578 |
| Target Point 2 (TP2) | Second resistance: 599 | Second support: 575 |
| Stop Loss (SL) | 581 | 589 |
The overall trend for Facebook stock remains bearish, but it shows weak negative momentum, with positive signals from the moving averages and MACD. The stock is expected to see some volatility in the short term.
with chances of turning bullish if it can sustain trading above the 585 level.
