FB breaks below 200-day moving average


Facebook (FB) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
FB breaks below 200-day moving average
FB closes lower for the 2nd day in a row
FB breaks below previous session low
FB falls to lowest close since August 3rd
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, FB ended the week 1.39% higher at 180.26 after losing $2.83 (-1.55%) today. Today's closing price of 180.26 marks the lowest close since August 3rd. Closing below Thursday's low at 182.48, Facebook confirms its breakout through the prior session's low having traded $3.06 below it intraday.

Daily chart for FB
Volatility

Friday's trading range was $2.68 (1.47%), that's below last trading month's daily average range of $4.38. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way above average.

Trend

The share shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The stock broke below the 200-day moving average at 181.81 today for the first time since July 26th.

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
Condition Forecast Direction Win Avg Worst Best Events
Down Close Near Low of Period TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Black Candle TQ Pro Members Only
High close to previous High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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