Journal Entry: The first thing I noticed on this chart was the declining volume for the bullish trend. Their is less and less participation in the rally for FB.
To be honest I will interject here for a moment, I have not had a Facebook account for a few years, and after just recently creating another account I can see where Facebook is going to be the next possible penny stock. After the first day of having my account, I was locked out and asked to provide verification with a phone number. That's normal, but what isn't is that it locked me out automatically based on "suspicious account activity" while I was logged on. Subscribers are going to look for something else based on this alone. The next problem I encountered was another lockout a few days later and I was requested to upload a photo for review in order to be allowed back into my account. It has been 3 days, and I am still locked out, all the while my email is Facebook receiving alerts from my account. This is enough, there is no point for subscribers to be abused for their own security.
OK. Back to the analysis on the chart that is reflecting this sentiment in the public. The volume is entering all time lows, and the there has not been any significant pullbacks, retracements, or reversals to sustain the energy in the trend; the stock is overbought. I think based on the 1 month price will be nearing it's last peak, or already has and is now going to begin a period of distribution or possibly sell off with a tremendous amount of fear. I have positioned one target which may be easily met, using intersecting points with Fibonacci Analysis. I am making a note that this is on the 1 month chart, and the daily may behave differently and trade to new highs, I also am noting that as the stock loses interest Facebook is going to be less of an influence on the indices themselves as investors re-allocate their funds. Finally I have a price floor drawn in as a blue box; if the stock trades below this point I expect another leg of the move, as always wait for confirmation.
God Bless.
To be honest I will interject here for a moment, I have not had a Facebook account for a few years, and after just recently creating another account I can see where Facebook is going to be the next possible penny stock. After the first day of having my account, I was locked out and asked to provide verification with a phone number. That's normal, but what isn't is that it locked me out automatically based on "suspicious account activity" while I was logged on. Subscribers are going to look for something else based on this alone. The next problem I encountered was another lockout a few days later and I was requested to upload a photo for review in order to be allowed back into my account. It has been 3 days, and I am still locked out, all the while my email is Facebook receiving alerts from my account. This is enough, there is no point for subscribers to be abused for their own security.
OK. Back to the analysis on the chart that is reflecting this sentiment in the public. The volume is entering all time lows, and the there has not been any significant pullbacks, retracements, or reversals to sustain the energy in the trend; the stock is overbought. I think based on the 1 month price will be nearing it's last peak, or already has and is now going to begin a period of distribution or possibly sell off with a tremendous amount of fear. I have positioned one target which may be easily met, using intersecting points with Fibonacci Analysis. I am making a note that this is on the 1 month chart, and the daily may behave differently and trade to new highs, I also am noting that as the stock loses interest Facebook is going to be less of an influence on the indices themselves as investors re-allocate their funds. Finally I have a price floor drawn in as a blue box; if the stock trades below this point I expect another leg of the move, as always wait for confirmation.
God Bless.
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CORRECTION: I must have moved something around, here is the intersecting point.
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And a 2nd one here:
