Source: PaxForex Premium Analytics Portal, Technical Insight
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Facebook, H4
Pivot: 265.29
Analysis:
Provided that the asset is traded above 260.40, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 265.29
- Take Profit 1: 273.40
- Take Profit 2: 276.80
Alternative scenario:
In case of breakdown of the level 260.40, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 260.40
- Take Profit 1: 254.40
- Take Profit 2: 251.00
Comment:
RSI trades above 70. This may mean that prices are either in a steady uptrend or simply overbought, and therefore a correction may form (in this case, look for a bearish divergence). The MACD is positive and above its signal line. Configuration is positive. Facebook is above the 20 and 50-period moving average (256.92 and 253.34 respectively).
Key levels:
| Resistance | Support |
| 283.80 | 260.40 |
| 280.40 | 254.40 |
| 276.80 | 251.00 |
Facebook, D1
Pivot: 253.67
Analysis:
While the asset is traded above 234.80, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 253.67
- Take Profit 1: 278.10
- Take Profit 2: 289.10
Alternative scenario:
If level 234.80 is broken-down, follow the recommendations below.
- Time frame: D1
- Recommendation: short position
- Entry point: 234.80
- Take Profit 1: 216.60
- Take Profit 2: 205.90
Comment:
RSI is above its neutral area at 50. The MACD is below its signal line and positive. The stock may recover in the short term. Moreover, the stock is above 20 and 50 Daily Moving Averages (239.58 and 234.92 respectively). Finally, Facebook crossed Bollinger's upper daily band (251.17).
Key levels:
| Resistance | Support |
| 311.10 | 234.80 |
| 300.10 | 216.60 |
| 289.10 | 205.90 |
We also advise you to pay attention to Tesla for intraday trading:
Pivot: 1430.76
Analysis:
While the asset is traded above 1268.00 follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 1430.76
- Take Profit 1: 1766.00
- Take Profit 2: 1889.00
Alternative scenario:
If the level 1268.00 is broken-down, follow the recommendations below.
- Time frame: H4
- Recommendation: short position
- Entry point: 1268.00
- Take Profit 1: 1073.00
- Take Profit 2: 956.00
