Fundamentals:
Annual Report as well as the Q1 2018 report are very positive, so the fundament behind the chart is good for an uptrend.
Technicals
MONTHLY CHART
-Trendline is confirmed, clearly going up and respecting that line.
-Now trying to test all time highs but doesn't look like the best setup for a price explosion; quite a lot of weird up and down spikes, not that solid, retracement quite impulsive.
Conclusion:
View is bullish, but there are some early signs of potential momentum slowing time, this means no contiuation, no reversal either.
WEEKLY CHART
-Potential scenario because price is kind of slowing down, looks like double top kind of formation.
-195-200 resistance, major key level there.
-For the next months, I don't think it'll break impulsively. Still remains bullish ofcourse, but think it's kind of running out of steam.
Conclusion:
View is bullish, but no continuation expected in the next period of time.
DAILY CHART
Falling wedge, not the best, but kind of forming up there. Quite some evidence supporting it, such as psychological key level resistance, double top formation aka highs rejection.
Conclusion:
Currently bullish, but expected to turn bearish soon on this timeframe.
--
The more and more I zoom into this chart, the more bearish it becomes. Can be early signs of a neutral period for FB, despite the fact that the fundamentals are quite strong. Doesn't mean this will drop, but just don't expect price to continue going up for now.
Please give me some feedback on those analysis, would appreciate that!
Annual Report as well as the Q1 2018 report are very positive, so the fundament behind the chart is good for an uptrend.
Technicals
MONTHLY CHART
-Now trying to test all time highs but doesn't look like the best setup for a price explosion; quite a lot of weird up and down spikes, not that solid, retracement quite impulsive.
Conclusion:
View is bullish, but there are some early signs of potential momentum slowing time, this means no contiuation, no reversal either.
WEEKLY CHART
-195-200 resistance, major key level there.
-For the next months, I don't think it'll break impulsively. Still remains bullish ofcourse, but think it's kind of running out of steam.
Conclusion:
View is bullish, but no continuation expected in the next period of time.
DAILY CHART
Conclusion:
Currently bullish, but expected to turn bearish soon on this timeframe.
--
The more and more I zoom into this chart, the more bearish it becomes. Can be early signs of a neutral period for FB, despite the fact that the fundamentals are quite strong. Doesn't mean this will drop, but just don't expect price to continue going up for now.
Please give me some feedback on those analysis, would appreciate that!
