Facebook Stock Technical Analysis: Facebook stock is trading in a weak uptrend today, as it recorded the highest trading price for the day so far at $607, while the lowest price was recorded at $597. At the moment, the stock is trading at the $607 level. This indicates a weak upward movement, as the stock shows some upward momentum, but the strength of the trend is still limited.
Facebook Stock Technical Analysis: Technical Analysis
- Moving Averages:
The charts show that the stock is trading below the moving average indicators in the short and medium term. Usually, when the price trades below the moving averages, this indicates a weakness in the uptrend, as the market may not be able to maintain the upward momentum in the long term. Therefore, the upward strength remains weak, which limits the possibility of continuing the uptrend.
- MACD Indicator:
The MACD indicator indicates a positive trend, but the signal is weak. A bullish crossover appears between the MACD line and the signal line, but in the area near zero, reflecting weak upward momentum. This signal supports the idea that there is a weak uptrend, but the momentum is not strong enough to support a strong uptrend in the short term.
Trading Outlook:
Given these technical signals, the stock is expected to remain in a narrow trading range in the short term. Although there is an upward bias, weak momentum may limit the strength of this trend. If the price continues below the moving averages, the stock may not be able to maintain the current highs, which may lead to a pullback to previous support levels.
Trading strategies based on Buy/Sell levels
| Facebook Stock | In case of buying | in case of selling |
| Entry point | 613 | 601 |
| Target Point 1 (TP1) | First resistance: 617 | First support: 594 |
| Target Point 2 (TP2) | Second resistance: 622 | Second support: 587 |
| Stop Loss (SL) | 601 | 613 |
Facebook stock is showing a weak uptrend based on current technical analysis, with weak momentum and trading below the moving averages. Despite the positive signal from the MACD, the weak momentum may limit the chances of a continued uptrend in the short term. Traders are advised to monitor any changes in momentum and follow accurate trading strategies based on future price action, focusing on key support and resistance levels.
