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As of close 15 May 2020
The weekly pattern here is powerful... Price bounced off support [the lower yellow box to make that higher low], blew through TAOST Magnet Zone [TMZ] and it looks like price definitely wants to exceed the most recent weekly high.
Facebook has weathered some pretty bad headlines over the last several weeks. The stock looks to be coiling before a big move likely around the time of its next earnings report [July 28th].
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As of close 17 July 2020
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As of close 7 August 2020
- My most recent update
- Price spiked through the all-time high on earnings...
- Traders brought price back to test the previous all-time high as support
- Price bounced off support and accelerated to the upside.
I'm hard-pressed to say jump into FB with a purchase right here... but that doesn't mean I'd be a seller. If I owned it, I'd likely hold it... maybe trim a bit. Watch for a buy signal on a pullback into the area between the rising trendline and the horizontal line to buy... Otherwise, sit tight... I wouldn't get short... but then you know that already.
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As of Close 16 October 2020
Like most of tech this week, Facebook "suffered" a mild pullback. I actually think it will prove to ultimately be a decent buying opportunity.
Addendum
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As of close 30 November 2020
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As of close 22 January 2021
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As of 7 March 2021
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As of close Friday 4 June 2021
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As of Close 7 January 2022 -- Messy Meta?
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As of Close 13 May 2022
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As of close 26 September 2022
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As of Close Friday 3 February 2023
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