$FB Golden Cross - Medium Term Target $248
50D EMA Crossing over 200D EMA on Daily Chart - positive sign and used as a buy signal for many investors.
FB broke through gap fill resistance at $210 last week...pulling back to close just above that line today.
Assuming a close above $210 tomorrow, this can be viewed as a successful retest of $210 now as support.
Fueled by the moving average crossover and overall bullish near term market trend, we should see a strong drive back to all-time high area (~$224) by end of next week. There's a good reason why Facebook is always a top holding of hedge funds.
See chart for a possible path over the next month.
Target: $248 by mid to late June
*This analysis assumes neutral to positive developments in coronavirus/reopening economy situation over the next month.
Educational not investment advice.
FB broke through gap fill resistance at $210 last week...pulling back to close just above that line today.
Assuming a close above $210 tomorrow, this can be viewed as a successful retest of $210 now as support.
Fueled by the moving average crossover and overall bullish near term market trend, we should see a strong drive back to all-time high area (~$224) by end of next week. There's a good reason why Facebook is always a top holding of hedge funds.
See chart for a possible path over the next month.
Target: $248 by mid to late June
*This analysis assumes neutral to positive developments in coronavirus/reopening economy situation over the next month.
Educational not investment advice.
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