Facebook – Tick Insights

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

FEDEX Corp Stock code FDX.NYS

Outlook

Price fell below the cloud after its CFO warned that “slowing international macroeconomic conditions and weaker global trade growth trends continue, as seen in the year-over-year decline in our FedEx Express international revenue.” Price is now below the Conversion and Base lines as well as the cloud, hinting of a bearish trend ahead. MACD is turning bearish and Stochastic is about to turn down. Unless price is able to close the gap created yesterday, price is likely to decline lower.

Strategy

$177.80 Short Sell
$163.50 Price Target
$181.10 Risk Management Stop
3 weeks Trade Duration

Facebook Inc Stock Code FB.NAS

Outlook

Price attempted to close the gap but was unable to break below the support at $159.60. There was also a cloud support nearby. While price is below both Conversion and Base lines, price is above the cloud, hinting of a bullish trend. If price can stay above the cloud and the big gap, it should try the high again. Yesterday, price managed to move higher despite the overall market weakness. While MACD is showing signs of bearish divergence, the strong trend could override the divergence signals.

Strategy

$163.80 Buy
$175.90 Price Target
$158.10 Risk Management Stop
3 weeks Trade Duration