FB weekly trend reversal and breakout of downtrend channel

11 Des 2018

FB Fadcebook has broken out of it's daily and weekly downtrend channel at long last. It's building sizable bullish momentum for a rebound at least up to 165. However I suspect that because it is so oversold and the markets at large are currently so oversold (even on weekly levels) globally that we're going to see a sizable rally / short squeeze within the next few days. I expect a +22% move possibly more if the rest of the market can maintain some bullish momentum.

11 Des 2018

Catatan

Facebook*

11 Des 2018

Catatan

Since August RSI 50 has been resistance on the Daily. Today we've broken above. Shorter time-frames starting to get close to overbought but we should be just moments away from FB rallying hard.