Facebook Holds the Trendline
Facebook has been steadily climbing since March, and now it’s pulled back.
Notice the rising trendline along the lows in mid-May and mid-June. FB touched and held that line today.
Prices are also holding their 21-day exponential moving average (EMA), which provided support last month.
Third, the hourly chart shows how FB returned to the $344 area where it traded immediately before winning an anti-trust battle with the Federal Trade Commission. That briefly pushed FB’s market capitalization above $1 trillion:
Finally, the social-media giant reports earnings on July 28. It’s enjoyed strong tailwinds from advertising. There could be more positive catalysts soon as Mark Zuckerberg’s team focuses on growing new e-commerce features like Facebook Marketplace.
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Notice the rising trendline along the lows in mid-May and mid-June. FB touched and held that line today.
Prices are also holding their 21-day exponential moving average (EMA), which provided support last month.
Third, the hourly chart shows how FB returned to the $344 area where it traded immediately before winning an anti-trust battle with the Federal Trade Commission. That briefly pushed FB’s market capitalization above $1 trillion:
Finally, the social-media giant reports earnings on July 28. It’s enjoyed strong tailwinds from advertising. There could be more positive catalysts soon as Mark Zuckerberg’s team focuses on growing new e-commerce features like Facebook Marketplace.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
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