FB pushes through previous session high


Facebook (FB) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
FB closes higher for the 2nd day in a row
FB pushes through previous session high
FB rises to highest close since Inception
FB ends the day indecisive
TQ Sentiment
Report Sentiment: 40% Bullish
Technical Forecast:
Overview

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.

Daily chart for FB
Volatility

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.

Support/Resistance

Prices are trading close to a key support level at 205.80.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Facebook
ConditionForecastDirectionWinAvgWorstBestEvents
Close near low of period TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

FB breaks below prior session low

Jul 19, 2018
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