Strong bullish signal on Facebook daily chart. Today trading session forecast is for further price extensions towards the most significant resistance levels.
On the 28/04/2016 Facebook close was at 116.73 (+7.20%). The main trend is up on the daily chart, the bulls are in control. Expected further price extensions. The positive value of many leading oscillators indicates infact an upward trend.
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Simple Moving Average (SMA)
Strong bullish signal: the price crosses above the 14-day moving average (SMA value is 111.02). Today trading session forecast is for further price extensions towards the most significant resistance levels. However, the buy signal should be confirmed with increasing volume.
Daily chart shows volume is higher than the previous day. This could be a sign of a significant move to come.
Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 28/04/2016.
Performance: 7 trading days= +3.83% – 15 trading days= +5.51% – 30 trading days= +5.14%
Resistance levels: R1= 119.60 – R2= 122.48 – R3= 127.04
Pivot Point: 111.92
Support levels: S1= 115.04 – S2= 113.36 – S3= 108.80
Buying opportunity above 116.99, targets minor resistance at 118.43 and perhaps as far as strong resistance at 119.45, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 122.03.
Selling opportunity below 116.05, targets minor support at 114.62 and perhaps as far as strong support at 113.62, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 111.10.