Shares of Facebook, Inc. (FB) rose on April 30, after the income report, and soared above its monthly pivot at $202.60, the same as in May. The growth potential to the semi-annual level is $225.99, which will be a new record high.
Facebook, H4
Pivot: 211.00
Analysis:
Provided that the asset is traded above 205.85, follow the recommendations below:
Time frame: H4
Recommendation: long position
Entry point: 211.00
Take Profit 1: 218.40
Take Profit 2: 223.90
Alternative scenario:
In case of breakdown of the level 205.85, follow the recommendations below:
The timeframe: H4
Recommendation: short position
Entry point: 205.85
Take Profit 1: 197.95
Take Profit 2: 193.10
Comment:
RSI shows a continuation of an upward trend.
Key levels:
Resistance
Support
226.00
205.85
223.90
197.95
218.40
193.10
Facebook, D1
Pivot: 212.35
Analysis:
While the asset is traded above 197.60, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 212.35
Take Profit 1: 233.70
Take Profit 2: 243.70
Alternative scenario:
If the level 197.60 is broken-down, follow the recommendations below.
Time frame: D1
Recommendation: short position
Entry point: 197.60
Take Profit 1: 180.70
Take Profit 2: 170.60
Comment:
RSI above 70. This can mean either that the stock is in a long upward trend, or simply that it is overbought and therefore needs to be adjusted (look for bearish divergence in this case). The MACD is positive and it is above the signal line. Configuration is positive. In addition, the stock is above its 20 and 50 daily moving averages (by 190.4 and 176.05 respectively).
Key levels:
Resistance
Support
264.20
197.60
253.90
180.70
243.70
170.60
We also advise you to pay attention to Cisco for intra-day trading:
Pivot: 42.99
Analysis:
While the asset is traded above 39.40, follow the recommendations below:
Time frame: H4
Recommendation: long position
Entry point: 42.99
Take Profit 1: 46.70
Take Profit 2: 48.50
Alternative scenario:
If the level 39.40 is broken-down, follow the recommendations below.
Time frame: H4
Recommendation: short position
Entry point: 39.40
Take Profit 1: 36.40
Take Profit 2: 34.60
WHY TRADE WITH PAXFOREX?
We are one of the fastest growing Forex Brokers in the Market. Trade with PaxForex to get the full Forex Trading experience which is based on...