Facebook Inc. Stock Code FB.NAS
Outlook
After price reached a high of $304.67 on 26 August 2020, price went into a correction but has managed to stay above the cloud during the correction, keeping the bullish trend intact. Price has managed to find support inside the cloud as well as inside the gap support zone. Conversion and Base lines had a bearish crossover while Lagging Span is below price of 26 days ago and above the cloud. Lagging Span, Conversion and Base lines are unable to confirm the bullish trend. MACD is bearish with both of its lines below the zero line but MACD is turning up towards the zero line. We think the correction from the high could be coming to an end and price could be moving up to $281 again.
Strategy
$251.00 Buy
$281.00 Price Target
$231.00 Risk Management Stop
3 weeks Trade Duration
