Facebook (FB) Updates
Important pull-back of Facebook in September, which lost 11% from the highs reached on 10th.
The return to the 200 moving average, a key level for institutional investors, last touched in March of this year (obviously speaking of timeframe Daily) is happening.
Facebook, like Apple, is very closely linked to the Nasdaq and if we analyze the QQQ trend, we can clearly see the almost identical correlation of the last period.
Therefore physiological pull-back and linked to a generalized discharge of the Nasdaq.
If the price were to reverse before the average, we would have a new uptrend line to take into account.
On Facebook, whoever follows me knows, I have a long-term strategy, and every now and then I bring home the profits and then reinvest precisely in the moments of correction.
So, in my view, the interesting levels to enter or accumulate are:
- 334.70
- 315.70 (the level where I set my accumulation)
- 300 (very important level, tested several times as resistance and support, as well as psychological).
Always bearing in mind that the simple moving average 200 remains a moving level, as important as the volumes.
My position is attached, as always.
Happy trading
DISCLAIMER: I am not a financial advisor nor a CPA. These posts, videos, and any other contents are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
Important pull-back of Facebook in September, which lost 11% from the highs reached on 10th.
The return to the 200 moving average, a key level for institutional investors, last touched in March of this year (obviously speaking of timeframe Daily) is happening.
Facebook, like Apple, is very closely linked to the Nasdaq and if we analyze the QQQ trend, we can clearly see the almost identical correlation of the last period.
Therefore physiological pull-back and linked to a generalized discharge of the Nasdaq.
If the price were to reverse before the average, we would have a new uptrend line to take into account.
On Facebook, whoever follows me knows, I have a long-term strategy, and every now and then I bring home the profits and then reinvest precisely in the moments of correction.
So, in my view, the interesting levels to enter or accumulate are:
- 334.70
- 315.70 (the level where I set my accumulation)
- 300 (very important level, tested several times as resistance and support, as well as psychological).
Always bearing in mind that the simple moving average 200 remains a moving level, as important as the volumes.
My position is attached, as always.
Happy trading
DISCLAIMER: I am not a financial advisor nor a CPA. These posts, videos, and any other contents are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
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