Source: PaxForex Premium Analytics Portal, Technical Insight

Facebook was left without its biggest advertiser because of racism. Walt Disney has joined the boycott of Facebook, significantly reducing the cost of advertising on the social networks Facebook and Instagram, writes the Wall Street Journal. The boycott of the social network was also joined by Adidas, Reebok, Puma, North Face, Ford, Levi Strauss, HP, Microsoft, Coca-Cola, Diageo, Honda, Starbucks, Verizon, Unilever and many others.

Facebook, H4

Pivot: 232.38

Analysis:

Provided that the asset is traded below 235.60, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 232.38
• Take Profit 1:  229.20
• Take Profit 2: 227.80

Alternative scenario: 

In case of breakout of the level 235.60, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 235.60
• Take Profit 1: 238.00
• Take Profit 2: 239.40

Comment:

RSI is below 30. This can mean either that prices are in a steady downtrend or they are simply oversold and therefore must pullback (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Facebook trades under periods 20 and 50 (237.72 and 240.59 respectively).

Key levels:

Facebook, D1

Pivot: 238.54

Analysis:

While the asset is traded above 226.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 238.54
• Take Profit 1: 261.00
• Take Profit 2: 270.70

Alternative scenario:

If level 226.00 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 226.00
• Take Profit 1: 210.00
• Take Profit 2: 200.70

Comment:

RSI is above its neutral area at 50. The MACD is positive and is below its signal line. The stock may recover in the short term. Moreover, the stocks are trading above the 20-day and 50-day moving average (by 237.32 and 231.78 respectively).

Key levels:

We also advise you to pay attention to Cisco for intraday trading:

Pivot: 46.90 

Analysis:

While the asset is traded above 44.60, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 46.90
• Take Profit 1: 50.10
• Take Profit 2: 51.60

Alternative scenario:

If the level 44.60  is broken-down, follow the recommendations below.

• Time frame: H4
• Recommendation: short position
• Entry point: 44.60 
• Take Profit 1: 42.10
• Take Profit 2: 40.60