Considering Joining Facebook

• Posted by Greg Harmon
• on June 5th, 2014

Well, I still do not have a Facebook ($FB) account, and do not have plans to try to figure it out. But the chart of the stock price looks ready to move higher. If ti does I will have no problem owning it. Facebook turned up on the radar last weekend but did not get to the short list. The chart below shows the Cup like consolidation after the pullback from the March highs at 72. The far right of that Cup shows a building of higher lows and a the current consolidation near the trigger at 64.25. A move over that and a trip back to the March highs is in the cards. The

RSI is on the cusp of a move into the bullish zone and the MACD is already rising in support of more upside. This one also has a natural stop close by, under the 100 day SMA and the bottom of the consolidation, or the 50/100 day SMA cross for you longer term investors.

Get my book, Trading Options: Using Technical Analysis to Design Winning Options Trades.

____________________________________________________________________________________________________

Want to learn more about Dragonfly Capital Views?
Dragonfly Capital Views Performance Through May 2014 Expiry and sign up here

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

blog comments powered by Disqus