Over the past few months, the stock has been a great success, with share prices reaching a 52-week high of $224.20, Facebook shares are in the upside zone. This does not mean that the shares of the technology giant cannot fall as the pandemic is spreading and Facebook will report its first quarter results. But in the long run, Facebook shares are a great buying opportunity at current price levels.
Facebook, H4
Pivot: 185.17
Analysis:
Provided that the asset is traded above 181.80, follow the recommendations below:
Time frame: H4
Recommendation: long position
Entry point: 185.17
Take Profit 1: 190.40
Take Profit 2: 192.60
Alternative scenario:
In case of breakdown of the level 181.80, follow the recommendations below:
The timeframe: H4
Recommendation: short position
Entry point: 181.80
Take Profit 1: 178.20
Take Profit 2: 176.00
Comment:
RSI above 50. MACD is below its signal line and positive. Prices may recover in the short term. Facebook is above 20 and 50 MA periods (184.56 and 179.31 respectively).
Key levels:
Resistance
Support
196.8
181.8
194.6
178.2
192.6
176.0
Facebook, D1
Pivot: 182.28
Analysis:
While the asset is traded above 159.10, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 182.28
Take Profit 1: 214.70
Take Profit 2: 229.70
Alternative scenario:
If the level 159.10 is broken-down, follow the recommendations below.
Time frame: D1
Recommendation: short position
Entry point: 159.10
Take Profit 1: 134.90
Take Profit 2: 120.40
Comment:
RSI above 50. MACD is positive and above the signal line. The configuration is positive. Moreover, the stocks are traded above the 20-day and 50-day moving average (by 169.08 and 178.02 respectively).
Key levels:
Resistance
Support
259.6
159.1
244.6
134.9
229.7
120.4
We also advise you to pay attention to Apple for intra-day trading:
Pivot: 276.40
Analysis:
While the asset is traded below 281.80, follow the recommendations below:
Time frame: H4
Recommendation: short position
Entry point: 276.40
Take Profit 1: 269.80
Take Profit 2: 266.80
Alternative scenario:
If the level 281.80 is broken-out, follow the recommendations below.
Time frame: H4
Recommendation: long position
Entry point: 281.80
Take Profit 1: 289.40
Take Profit 2: 319.44
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...