FaceBook ($FB) Hourly: Let’s have a closer look at the hourly chart on $FB, after the Friday’s late in the day loss of -3.3%. We see that after having found support at the $144.70 level on May 17, Facebook proceeded to begin a motive Elliot Wave up to $149, then correcting right about 0.5 fib level at $147.25 to complete wave 2, back up to ~$153 at 1.618 fib level to complete wave 3, down to $150.50, 0.5 fib level for wave 4, then up to $155.50 on Friday to complete wave 5. This was a fairly standard EW, with correct lengths and fib levels as one would expect. The sell off/correction on Friday brought the stock down to as low as $147, near the 0.786 fib line of the entire run up, then finding support at the 0.618 fib level and settling right near the 0.5 fib level mark.
I would expect $FB to try to find support around these levels and push higher to about the $152.50 level (which just so happens is where the 50 hour moving avg is, @ 0.5 fib level), at which point we can get a better idea of whether this is a corrective wave, which will push the stock back down to $146 to find support and before moving higher to new highs, or if this is a reversal in the stock and formation of a bearish impulse wave, which will mark a change in momentum of the stock and move to lower levels below $146 (50 day moving avg support).
I would expect $FB to try to find support around these levels and push higher to about the $152.50 level (which just so happens is where the 50 hour moving avg is, @ 0.5 fib level), at which point we can get a better idea of whether this is a corrective wave, which will push the stock back down to $146 to find support and before moving higher to new highs, or if this is a reversal in the stock and formation of a bearish impulse wave, which will mark a change in momentum of the stock and move to lower levels below $146 (50 day moving avg support).
评论:
$FB hit that 50 hour moving avg and .618 fib retrace today and gets knocked back down, along with MACD about to rollover - as predicted.