FB pushes through previous session high
Facebook (FB) Technical Analysis Report for Jul 13, 2018
Moving higher for the 2nd day in a row, FB finished the week 2.01% higher at 207.32 after edging higher $0.40 (0.19%) today on low volume. Today's closing price of 207.32 marks the highest close since Inception. Closing above Thursday's high at 207.08, Facebook confirms its breakout through the prior session's high having traded $1.34 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was $1.97 (0.95%), that's far below last trading month's daily average range of $3.95. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 205.80.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.